GST Bill proposes new anti-profiteering measure: Sources

The revised Goods and Services Tax (GST) Bill draft has proposed a new anti-profiteering measure under the new tax regime and the Centre may constitute an authority to oversee the benefits being passed on.

Quoting sources, Sapna Das of CNBC-TV18 reports that the proposed authority may also prescribe penalty against profiteering.

Subsidies provided by Centre and states are to be kept out of GST and the tax is likely to be levied on supply of services by intermediaries, sources said.