Not only has an GST anti-profiteering rules crimped corporate profitability in other countries, but critics say it could result in tax terrorism. Photo: PTIWith a chairman for the National Anti-Profiteering Authority in place, the anti-profiteering methodology is the next key thing to watch out for. Australia, Malaysia, Canada and New Zealand are some countries where anti-profiteering or similar provisions have been put in place. In Australia, GST implementation had a three-year transition period from 1 July 1999 to 30 June 2002. The anti-profiteering rules set net profit margin as on 1 January 2015 as a benchmark to gauge whether benefits have been passed on or not.

Source: Mint December 06, 2017 02:26 UTC