With GST rate cuts, govt expects lower prices to reach consumers |...

With GST rate cuts, govt expects lower prices to reach consumers

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The government anticipates businesses will pass on the benefits of lower GST rates to consumers. The CBIC will engage with industry to ensure compliance, with indications suggesting a positive response. While the anti-profiteering agency is disbanded, the provision remains, and guidance will be issued for goods already in stock, allowing businesses to claim credit for the reduced tax.

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