In a bid to ensure that the benefits of lower GST on products — ranging from smartphones to medical devices and cement — are passed on to consumers, the Centre released on Monday calculations to show how the burden of indirect taxes will come down in the new regime. The detailed analysis from the finance ministry comes days after the GST Council, comprising ministers from the Centre and states, decided on product-wise tax rates and the government threatened to invoke the anti-profiteering clause if the gains were not passed on from July, the scheduled date for GST launch.
In a bid to ensure that the benefits of lower GST on products — ranging from smartphones to medical devices and cement — are passed on to consumers, the Centre released on Monday calculations to show how the burden of indirect taxes will come down in the new regime. The detailed analysis from the finance ministry comes days after the GST Council, comprising ministers from the Centre and states, decided on product-wise tax rates and the government threatened to invoke the anti-profiteering clause if the gains were not passed on from July, the scheduled date for GST launch.
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