Anti-Profiteering (GST)
Definition
A GST provision requiring businesses to pass on the benefit of a rate cut or additional input tax credit to customers through lower prices, rather than keeping it as extra margin. Compliance is monitored by the designated authority.
Related Terms in India GST
GST Registration Suspension
A state in which a taxpayer's GST registration is temporarily inactive — for example after applying for cancellation or when the department initiates cancellation. During suspension the taxpayer generally cannot issue tax invoices or claim credit.
GST Amnesty Scheme
A time-limited relief the government periodically offers to let taxpayers regularise past GST non-compliance — such as late returns — with reduced or waived late fees. Terms vary by scheme and are set by notification.
QRMP Scheme
The Quarterly Return Monthly Payment scheme under GST, which lets smaller taxpayers file GSTR-1 and GSTR-3B quarterly while paying tax monthly through a simple challan. It reduces filing frequency for eligible businesses.
Invoice Furnishing Facility (IFF)
A facility under the QRMP scheme that lets quarterly filers upload their B2B invoices in the first two months of a quarter, so their buyers can see the credit sooner instead of waiting for the quarterly GSTR-1.
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