GST: Fin Min warns industry against hiking prices arbitrarily
GST
Dated:- 20-5-2017
Srinagar, May 19 (PTI) With companies indicating a possible rise in prices on the Goods and Services Tax rollout from July 1, the finance ministry today warned India Inc against raising rates arbitrarily in anticipation of the GST.
\nThe tax department may invoke the anti-profiteering clause after the mechanism is put in place and may look into balance sheet of companies if they have gained from the GST and whether the benefits have been passed on to consumers.
\n"The machinery for the anti-profiteering authority may not be ready at present but any change in prices will be called into questioned," Revenue Secretary Hasmukh Adhia said, a<\/p>\n
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