New Delhi, Sept. 5 -- The government did not form an anti-profiteering body to penalise non-transmission of GST rate cuts to the consumer on the industry's assurance and in line with the philosophy of making the tax regime and compliance to it simpler, much like it has done with simplified registration, expeditious refunds, and ease of compliance, two officials familiar with the matter said.

They added that this is based on the observation that lower tax rates enhance voluntary compliance. This made the government decide against re-establishing a body like the erstwhile National Anti-Profiteering Authority (NAA), they said, requesting anonymity.

On Wednesday, following a meeting of the GST Council, the government announced a sweeping ov...