Damning verdict on GST’s anti-profiteering rulings

While the government came up with the idea of anti-profiteering in the GST law to ensure consumers didn’t get shortchanged with manufacturers not passing on GST rate-cuts, it was never clear why the government didn’t trust the markets to ensure this happened. After all, the market for most goods and services is hyper-competitive, and no manufacturer or service provider would be so imprudent as to…