{"id":33872,"date":"2018-10-30T14:48:11","date_gmt":"2018-10-30T09:18:11","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=33872"},"modified":"2018-10-30T14:48:11","modified_gmt":"2018-10-30T09:18:11","slug":"a-fine-balance","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/a-fine-balance\/","title":{"rendered":"A fine balance"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/opinion\/editorial\/a-fine-balance\/article20604206.ece\"><span style=\"font-weight: 400;\">A fine balance<\/span><\/a><\/p>\n<p><b>Context<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The GST\u2019s anti-profiteering body must not become a tool of harassment<\/span><\/li>\n<\/ul>\n<p><b>About the National Anti-Profiteering Authority<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The National Anti-Profiteering Authority is empowered to crack down on firms that fail to pass on the \u2018benefits\u2019 of the tax regime to consumers.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The authority can order businesses to reduce product prices or refund to consumers \u2018undue benefits\u2019; in extreme cases it can impose a penalty on errant firms and cancel their registration as taxpayers.<\/span><\/li>\n<\/ul>\n<p><b>Why is it important?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The trigger for setting up the authority is clearly the recent large-scale reduction in tax rates on more than 300 items, of which about 200 rate changes were to come recently<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The government is keen on ensuring that consumers have a better perception of the GST\u2019s ground-level impact.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">While wholesalers can still implement this, reaching every last retailer is a challenge.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Firms have been warned that the entire retail chain must reflect revised prices in order to avoid anti-profiteering action<\/span><\/li>\n<\/ul>\n<p><b>What is the way ahead?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The government must ensure that the authority\u2019s powers are used transparently and only where there is genuine consumer\/public interest at stake. Else, it runs the risk of making profit itself a bad word.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>A fine balance Context The GST\u2019s anti-profiteering body must not become a tool of harassment About the National Anti-Profiteering Authority The National Anti-Profiteering Authority is empowered to crack down on firms that fail to pass on the \u2018benefits\u2019 of the tax regime to consumers. The authority can order businesses to reduce product prices or refund&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/a-fine-balance\/\">Continue reading <span class=\"screen-reader-text\">A fine balance<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-33872","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704889912},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/33872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=33872"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/33872\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=33872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=33872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=33872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}