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 of amount not passed on with interest @ 18% to recipient, (c) imposition of penalty, and (d) cancellation of supplier’s registration; Affected consumers can file application before Standing Committee if profiteering has all-India character or before State level Screening Committee if profiteering is of local nature; Format inter alia provides for general information about the applicant, general information about supplier who has not passed on the benefit, particulars of goods / services including actual price / value charged per unit pre & post GST, and comparative per unit actual price / value of like goods / services charged by other suppliers, as well as details of reduction in tax rate / ITC benefit; Applicant must give details of input taxes / duties per unit, credit of which was not available to supplier before implementation of GST : CBEC