new delhi the government has threatened to cancel the registration of entities that do not pass on gains from gst to consumers the cancellation of registration is in addition to the power to levy penalty that was prescribed under the lawthe government has repeatedly threatened to invoke antiprofiteering provisions to ensure that gains of gst by way of lower taxes and input tax credit for taxes paid at all stages are passed on to consumersread alsohave a business here is your 10 step guide for migrating to gstwith the government finalising on rolling out the goods and services tax gst regime from july 1 is your business ready for the transition well if you have created an email or facebook account for yourself the migration process should be a breeze for youat the same time it also wants to ensure that in cases where the levy is going up companies do not take unfair advantagethe gst council has approved a threestage process with the complaints being first verified by a standing committee of officers if the panel finds merit it will be sent to director general of safeguards which will investigate the case based on the report antiprofiteering authority will decide on the case from the time the complaint is lodged the entire process has to be completed in eight months the rules finalised by the council saidtax practitioners said that cancellation of registration is too harsh given that the rules are too openended a consultant said in their current form the provisions can be misused by rivals who can lodge a complaint against a company which will have to answer queriesthe current mechanism is too broadbased and difficult to implement can you act against an eatery in mahabalipuram that does not pass on the gains of input tax credit the focus should be on sectors such as automobiles cement steel and real estate where malpractices are more common and some have a history of pocketing the gains said a tax consultant with a global firmthe government has opted to play it safe with the antiprofiteering provisions as malaysia saw a price surge in various segments after it introduced gst australia had successfully used the clause to ensure that consumer interest was protectedthe tax regime will get a mega launch on the night of june 30 with a special event planned in the historic central hall of parliamentfinance minister arun jaitley said president pranab mukherjee would be on the dais with prime minister narendra modi the pms predecessors manmohan singh and hd deve gowda have also been invited for the function which will see the implementation of gst at midnight former finance ministers state chief ministers and finance ministers who have worked on the implementation process for years have also been invitedon monday the centre also notified several provisions of the integrated gst act to move towards a july 1 launch even as the jammu kashmir government is trying to push for a passage of the legislation to