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The Delhi High Court has once again underlined a simple, consumer-centric principle at the heart of India's anti-profiteering law: when GST is cut or input tax credit (ITC) gains arise, prices must go down commensurately. You cannot keep the same MRP, bump up the base price, or "compensate" with more product quantity (extra grammage) or freebies. In Sharma Trading Company, a distributor of HUL products, the Court upheld a National Anti-Profiteering Authority...... Read More
Sunsetting Anti-Profiteering: A Shift from Transition to Stability under GST
When GST was introduced in 2017, Section 171 of the CGST Act brought in anti-profiteering provisions as a temporary safeguard to protect consumers during the transition to this new tax regime. The aim was to ensure that any reduction in GST rates or benefit of input tax credit was passed on to the ultimate consumer by way of a commensurate reduction in prices....................... Read More