ANTI-PROFITEERING PROVISION: A TOOTHLESS PROVISION OR A DANGEROUS WEAPON

Abstract

The implementation of the biggest tax reform in India created major controversies and positives in the corporate world, resulting in ignorance to one of the major provisions relating to “Anti-Profiteering Measure.” This provision is embedded in Section 171 of the Central Goods and Services Tax Act 2017, and can be presumed to be both interesting as well as ambiguous at the same time. With the National Anti-Profiteering Authority passing the third order, it is thought-provoking to see how this “socialistic” aspect of the Goods and Service Tax Acts will work out in the future. This comment intends to first explain the nature of this provision and then sheds light on why the author believes this provision to be a dangerous weapon/toothless provision.