At the 23rd GST Council meeting held in Guwahati last week, the government announced GST rate cut on about 200 items, and the anti-profiteering authority will ensure the benefits of the move are passed on to consumers. This institutional framework comprises the National Anti-profiteering Authority, a Standing Committee, a Screening Committee in every state and the Directorate General of Safeguards under the Central Board of Excise and Customs (CBEC). The GST anti-profiteering authority will be headed by a senior official of the level of secretary to the central government with four technical members from the centre and the states. The anti-profiteering authority will have a sunset date of two years from the date on which the chairman assumes charge. It also decided to lower the GST rate on 54 other items, from diabetic food and refined sugar to bamboo furniture.

Source: Mint November 16, 2017 11:48 UTC