Dimapur, Sep. 19 (EMN): Goods and Services Tax India (GST) has been introduced by subsuming multiple central and state indirect taxes with one of its main features on removing the cascading effect i.e. 'tax on tax' on the sale of goods and services. This was stated in an update issued on Sep. 18 by the Assistant commissioner of the department of Revenue, office of the Commissioner Goods and Services Tax in Dimapur.
The removal of the cascading effect will directly impact the cost of goods and decrease the cost as tax on tax is said to be eliminated in the new regime.
The release stated that the three-tier structure instituted for the investigation and adjudication of the complaints regarding profiteering as per the GST Act, 2017 are said to be National anti-profiteering authority, Directorate general of anti-profiteering and State-level screening committee and standing committee.
The sole purpose of the said institutional mechanism under the GST law is said to check the unfair profit-making by the trading community by ensuring that the benefits of the reduction in GST rates on the goods and services or the benefit of input tax credit passed on to the ultimate consumers by way of commensurate reduction in the process by the suppliers while ensuring that the traders would not take in unfair profit by charging high prices from the consumers in the name of GST.
The duty of the authority is said to examine and check the profiteering practices and recommend punitive actions including cancellation of registration.
The release further stated that the department inorder to check such profiteering practices constituted a screening committee in Nagaland with K. Ashi Khieya, Commissioner, Central GST Commissionerate, Dimapur and Mhathung Murry, Additional Commissioner, State Taxes, Nagaland as its members.
Further the update informed that complaints can be submitted either by visiting any of the said offices or through mail at “antiprofiteering.gst.nagaland@gmail.com“.
Any consumer or organisation can file complaint against the errant trader for not passing on the benefit of reduction in GST rates or the benefit of input tax credit with proper evidences in prescribed format as available on the website “www.gstcouncil.gov.in,” the release further informed.
The government is said to have reduced the GST rates on a large number of goods and services on the recommendation of the GST council from July 27, 2018 and that the cost of goods and services are said to be available at URLs: “goo.gl/9kTw7y” and “goo.gl/hvA6iy”, respectively.
The suppliers of goods and services are expected to pass the benefit of any reduction in the rate of GST on such supply or benefit of input tax credit to the recipient by way of commensurate reduction in prices and any wilful action of not passing such benefits to the recipient amounts to “Profiteering”, the update further informed.
