No new GST anti-profiteering investigations starting April 1, 2025
The Indian government has made a big announcement: no new anti-profiteering investigations under the Goods and Services Tax (GST) will kick off after April 1, 2025. This means businesses can now set their own pricing strategies without any hassles. However, the existing cases will still be taken care of until they're fully resolved. Starting October 1, 2024, the GST Appellate Tribunal will be in charge of these ongoing cases, taking over from the Competition Commission of India (CCI).
GST Appellate Tribunal to handle ongoing cases
The government has officially transferred the responsibility of adjudicating ongoing anti-profiteering cases, from the CCI to the Principal Bench of the GST Appellate Tribunal. The move was recommended by the GST Council during its 53rd meeting, suggesting that no new applications regarding anti-profiteering should be accepted by the CCI after April 1, 2025.
Impact of deregulation on business pricing strategies
The upcoming deadline is a big deal for businesses. It's the first time since GST was rolled out that prices will be mostly influenced by market forces, without the watchful eye of anti-profiteering regulations. Rajat Mohan, Executive Director at Moore Singhi, said this deregulation will create a more dynamic pricing environment. He also mentioned that businesses will have more freedom to tweak their pricing strategies based on what the market demands.
