CBIC monitoring GST cut benefit transfer to public

AS THE GOODS and Services Tax (GST) rate cuts take effect, the Central Board of Indirect Taxes and Customs (CBIC’s) field formations across the country are monitoring companies to ensure they pass on the benefits to consumers through lower prices of their products.

- FE BUREAU

Besides the CBIC field formations, the Centre will also receive real-time updates on these from state governments, other departments, as well as Bharatiya Janata Party (BJP) leaders, including members of Parliament. The government has reached out to industry bodies and associations in this regard, as well.