Home» Circulars» Feed Back On Post Gst Prices Anti Profiteering Provisions

Dear Members,

With the onset of GST, the council has been receiving feed-backs from the members regarding various EXIM related procedural issues which have been/ or are being resolved in due course by the authorities.

Since two months have passed after GST roll-out,  we  now await your feed-back on the  position of prices of the raw materials/ products relevant to the members in the  pre-GST and post-GST  period.  

For instance, we have received feed-back from a member  regarding sharp rise in the  price of SKO (Superior Kerosene Oil)  post GST roll-out which is impacting them adversely. 

There could be several reasons for rise like demand/ supply or any other. In case this increase is due to high GST rate, then that will also be available to you as  ITC.

So we  look forward to  your feed-back on  credible instances, if any,  where the Net price impact (after factoring ITC) itself is  very high.  

The members may revert with following information:

• Price in Pre-GST Period
• Tax % in Pre GST Period  (also whether input credit was availed)
• Price  in Post GST
• GST  % in Post GST Period
• Details  of suppliers
• Any other information of relevance

Members are also urged to provide supporting wherever possible to back up the justification.

Finally, we would like to also share with you that  there is an anti-profiteering provision in the GST Act which empowers the Central Government to constitute, or appoint, an authority to monitor prices businesses charge for goods and services in the lead up to, and following the introduction of, the GST. This is primarily to ensure that industry passes on the benefit to consumers.

Your early replies shall be appreciated and be sent to us for examination on our  e-mail id: Deepak.gupta@chemexcil.gov.in   &  balani.lic@chemexcil.gov.in .

Thanking You,

 Yours faithfully,

(S.G. BHARADI)
Executive Director