The government seems to increase its efforts towards the consumers who are still wondering about the benefits of goods and services tax. Consumer Welfare Fund is the main gateway for the government to emphasize on the publicity of indirect tax regime across the country.
The government is also set to announce rules and regulations applicable to the consumer welfare fund to direct it towards the proper execution of goods and services tax goals and benefits to the consumers.
A senior government official stated that “The rules have been framed and we should notify them next week”. All the purported operation regarding the setting of funds under consumer welfare scheme had been accordingly to the anti-profiteering scheme which will further help in curbing tax evasions.
According to the previous penalty depositions by the FMCG giant Hindustan Unilever, the penalty will not be the part of revenues but will be going into the consumer welfare funds.
Numerous cases of anti-profiteering issues have been registered with the government bodies and DSG which state that most of the companies are not passing the GST benefits to the final consumers.
While the penalty received has a different subject which mentioned that “In case the eligible person does not claim a return of the amount or is not identifiable, and depositing the same in the Consumer Welfare Fund.”
Overall the move will only try to solve the issues regarding the anti-profiteering clause and consumer-friendly GST for the nation.
