CBEC releases format for filing anti-profiteering application

CBEC releases Form APAF-1 for filing anti-profiteering application before Standing Committee / State level Screening Committee in terms of Rule 128 of CGST Rules; As per the law, suppliers of goods & services must pass on any reduction in tax rate or benefit of ITC to consumers by way of commensurate reduction in prices; If this is not done, consumer’s interest is protected by National Anti-profiteering Authority which may order – (a) reduction in prices, (b) return o...