Funds collected under GST anti-profiteering rules to be split between Centre, state

Centre and the 'concerned state' will equally share the amount deposited by erring businesses in the consumer welfare fund set up as part of the GST anti-profiteering rules, as per a Finance Ministry notification. Following the rollout of GST in July last year, the government set up a national anti-profiteering authority to penalise businesses for failure to pass on tax benefits to consumers. In c…