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One of the key pillars of GST implementation was to rationalise the tax structure which would in most cases reduce prices. Anti-profiteering measures have been introduced to ensure that that the benefit of GST is passed on to the consumer. The government is closely monitoring this area and there have been several news reports on action being taken. Any allegation of anti -profiteering carries a reputation risk and hence this topic is high on the business and board room agenda. Almost every organisation will be impacted to a greater or lesser extent by this legislative requirement. Despite its significance, there is little formal guidance on how to assess who is impacted and what is required in order to be compliant. The report puts forward a point of view summarising the intent, what Anti-profiteering means today and obligations and actions that arise. It also provides details on the areas requiring further clarification, assesses the impact on a number of sectors including the retail sector and sets out critical actions and key dos and don’ts.
Published by: RAI - Deloitte