SIGN IN SUBSCRIBE

News Update

Israel incinerates 1000 rocket launcher barrels of HezbollahSEBI hammer falls on Axis Capital; Ban imposed from acting as investment banker in debt marketCJI asks lawyers to use SC Platform for recorded ordersNPS Vatsalya - FM launches pension scheme for minorsTerrorists funding watchdog FATF praises India for technical compliance; suggests faster trial for money laundering & terror financing cases; expresses concern over militant activity by IS, Al Qaeda in J&KIP Saarthi - Govt launches AI/ML-based search engine for TrademarksAyushman Bharat Scheme suffers setback as private hospitals refuse cashless treatment; seek clearance of Rs 600 Crores in pending duesNACIN hosts 3-day roundtable on IPR; Govt envisages greater role of Customs in IPR protectionGovt scotches summons issued by US court over lawsuit by extremist Gurpatwant Singh Pannu following alleged assassination bidUS Presidential Poll: Tall promises by Hopefuls elbow economy closer to tax-doom-loop!Sourav Ganguly goes to Police against cyberbullyingYadav calls for development of sustainable, Inclusive low-carbon transport systemsFed lives up to global expectations; cuts interest rate by 0.5% - first cut in last 4 yearsMandaviya chairs meeting to provide Social Security to Gig and Platform WorkersCAQM announces revised GRAP schedule for Delhi-NCRChina to be on top of agenda at Quad meeting: White HouseCus - No proper evidence is found towards Customs Officer's involvement in fraud, the allegation that appellant has actively colluded with Customs officials cannot legally sustain, penalty imposed on appellant also cannot sustain: CESTATIndia's position is of a 'Vishwa Bandhu' in global world order: CDS Gen Anil ChauhanGovt organises 'FAME's Success in Transforming India's EV Landscape: From Vision to Reality'Death toll rises to 21 in second wave of blasts in Lebanon - it was Walkie-Talkie after pagerGermany halts exports of weapons to IsraelI-T - If any statute has been enacted, there cannot be insertion of any word beyond the contents of the statute: HCFaux cybercrime platforms busted in global operations; 51 arrested by EuropolCabinet okays National Centre of Excellence for Animation, Visual Effects & Gaming
 
CII wants Govt to go slow on anti-profiteering issue under GST

By TIOL News Service

NEW DELHI, JAN 07, 2018: ON the issue of anti-profiteering under the GST, the CII has sought more clarity in rules to curb tendency among the industry and trade to make a killing out of tax rate cut.

The business chamber has noted that since the definition in the rules is ambiguous, it may lead to bias against the industry. It has pointed out that since multiple factors influence the pricing decisions in a business, one to one relationship with the increase in Input Tax Credit with the reduction in prices may not be the correct way to look at it.

The CII has pointed out that the present rule may cause hardships particularly to the SMEs. Secondly, the Rules provide much less time to a business to prepare its compliance module.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
TIOL Tube brings you an interview with former US Secretary of Treasury, Mr. Larry Summers who was recently in Delhi.

TOP NEWS


AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST