srinagar the government on friday warned that businesses should pass on the benefit of lower taxes to consumers or face antiprofiteering action provided under the gst lawrevenue secretary hasmukh adhia told toi that the government is doing detailed calculations and the proposed antiprofiteering agency will be asked to keep tabs on price movements we have a strategy of requesting trade and industry to kindly pass it down but if it doesnt then in that situation we will have to use the antiprofiteering measures we will look at the price movement for twothree months before the launch of gst to ensure that companies do not take unnecessary advantage and consumers benefit he saidthe experience in countries such as malaysia had prompted the centre as well as some of the states to incorporate an antiprofiteering clause in gst laws although they insisted that it will not be used frequently the australian competition and consumer commission is as an agency that ensured that consumers gainedfinance minister arun jaitley too suggested that the antiprofiteering clause will be used wherever needed while the government is yet to appoint an antiprofiteering body one of the existing agencies such as the competition commission could also be tasked with the responsibilityadhia said the first attempt would be to get companies on board i am requesting all companies to cooperate with us gst is in their favour they were asking for it to avoid multiple taxes and cascading effect lets be honest and extend the benefits to consumerswhile industry is insisting that services such as telecom would get expensive due to 18 gst announced on friday the government believes that due to input tax credit the cost will come down by 3 the telecom industry should disclose the benefit in the bill and tax accordingly our calculations show that the incidence will remain around 15similarly a section of the white goods industry has claimed that price of acs and refrigerators will rise by 45 although government calculations show that the incidence will come down to 28 from the current level of 3132in case of automobiles the government is of the view that barring small diesel cars almost all other segments will see a marginal reduction in prices