GST anti-profiteering provisions: Not so profitable anymore

The concept of goods and services tax (GST) has been modelled along the lines of the value added tax (VAT) system adopted globally. Taking a cue from what other countries did on the introduction of VAT laws, the government incorporated provisions relating to anti-profiteering, to ensure that any benefit arising to any supplier due to the introduction of  GST  should reach the buyer. The…