The centre on Tuesday notified April 1, 2025 as a cut off date after which no new anti-profiteering investigations will be accepted, giving the business the autonomy to set prices for goods and services without the constraints of anti-profiteering regulations.
However, ongoing complaints and investigations will continue until they reach a final conclusion.
In another notification, the centre empowered the Principal Bench of the GST Appellate Tribunal to adjudicate ongoing anti-profiteering cases, which were earlier delegated to the Competition Commission of India (CCI) effective October 1, 2024.
The GST council, in its 53rd meeting, recommended that starting April 1, 2025, no new applications regarding anti-profiteering would be accepted by the CCI. It also proposed that anti-profiteering cases would be shifted to the GST Appellate Tribunal (GSTAT) from the CCI.
Experts say this deadline marks a significant transition phase for businesses, as for the first time since the introduction of GST—market forces will largely determine prices, free from the oversight of anti-profiteering regulations.”This deregulation will usher in a more dynamic pricing environment, allowing businesses greater flexibility to adjust their pricing strategies in response to market demands,” Rajat Mohan, Executive director Moore Singhi said.Also by shifting the case back to the tribunal, the much-needed tax law expertise back into the fold, ensuring more precise and informed decisions on profiteering cases, he adds.
