GST- Goods And Service Tax
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Government reduced GST on more than 100 items with effect from 27th July 2018, but many times manufacturers don’t reduce prices on products and keep amount of reduced tax with them as a profit. Actual customer don’t get benefit of reduced tax rates, the very purpose of government of tax rate cut don’t get fulfilled. In order to pass the benefit of GST rate reduction to Consumers Government has allowed under rule 33 (1) and 6(3) of packaged commodities rules for correction in MRP via stamping or putting sticker to indicate reduced MRP on such pre-packaged goods. This relaxation will applicable upto 31st dec 2018.
If any trader still don’t pass on benefit to the customer and keep reduced tax as his profit, anti-profiteering charges will be imposed on such traders.
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