Supreme Court issues notices on constitutional validity of anti-profiteering norms under GST
In yet another move by industry challenging the anti-profiteering norms under the ambit of Goods and Services Tax, the Supreme Court issued notices to the Union Finance Ministry, the Central Board of Indirect Taxes and Customs (CBIC), the Goods and Services (GST) Council and the National Anti-Profiteering Authority (Now subsumed under the Competition Commission of India) to reply on the claims of the constitutional validity of the anti-profiteering norms.
The apex court issued notices taking cognizance of petitions filed by real estate firms namely Swati Realty and Manas Developers, which have moved the top court challenging a Delhi High Court verdict, upholding the constitutional validity of anti-profiteering provisions.
According to a Special Leave Petition (SLP) by Swati Realty and Manas Developers, the High Court failed to appreciate the impugned provisions under the GST system, which the firm claims are unconstitutional.
