this story originally appeared in on aug 2 2017new delhi the goods and services tax council will at its next meeting finalise a mechanism to operationalise the antiprofiteering clause which seeks to protect consumers interest finance minister arun jaitley told the lok sabha on tuesday he said a proper decision would be taken on air indias future and it would be in the governments interest to protect jobs at the airline replying to a discussion on supplementary demands for grants which was later passed by the ls he said demonetisation had squeezed terror fundingantiprofiteering provision the gst council comprising state finance minister will meet on august 5 to take stock of implementation of gst which was rolled from july 1 the antiprofiteering provision mandates businesses to pass on the benefits arising out of lower taxes to the consumer by way of commensurate reduction in prices on concerns raised by members with regard to impact of gst on prices jaitley said it would be mandatory for manufacturers to pass on the benefits of reduction in taxes to consumers he hoped that the decision of price cut by automobile sector on account of benefit of input tax credit would be followed by others manufacturers what if input tax benefit is not transfered to consumerswe are meeting a few days from now in a short while we are going to finalise the entire mechanism as far as antiprofiteering is concerned all you need is to make a few examples and then everybody will fall in line if there is benefit of the input credit then cost correspondingly must decline he said while replying to a discussion on supplementary demands for grants the industry was resistant to this clause he said adding it has been put in the gst law for initial few years to save the interest of consumers the supplementary demands include a provision of rs 2000 crore for refund of central gst to industries in hilly and special category states of north east uttrakhand and himachal pradeshdemonetisation impact jaitley said demonetisation squeezed terror funding with the number of stone pelters coming down in jammu kashmir he said the rbi is in the process of exercise of counting the notes as also identifying fake notes and will give the total number of returned notes after the completion of exercise in the last few months security forces have had an upper hand jaitley said he said in 2008 to 2010 there were thousands of stone pelters on streets in last few months there have not been more than 2550 or 100 stone pelters on the streets there is one reason terror funding has been squeezed he said responding to opposition charge that demonetisation had failed to curb terrorism and fake currency