Updates from 03rd July, 2017
The government has said that it will not use any ‘hammer’ tactics to ensure prices remain low. In fact, most of the companies will automatically bring down their rates due to market forces. Several white goods manufacturers, car companies, nd consumer goods companies have already begun to slash prices as they recalculate their costs in a post-GST economy. The industry has been worried about the ‘anti-profiteering’ clause in the GST Bill, but this assurance from top ranking officials should help allay their fears.
As reported in The Times of India