New Delhi, Aug. 27 -- The government may reactivate an anti-profiteering mechanism alongside next month's expected Goods and Services Tax (GST) rate rationalisation to ensure businesses immediately pass on the benefits of lower GST rates to consumers, people familiar with the matter said. The move comes as the GST Council prepares to meet on September 3-4 in New Delhi to discuss the Centre's proposal to slash tax slabs from four to two, potentially making everyday items significantly cheaper ahead of the festive season. There is a pressing need to reinstate oversight mechanisms because the proposed changes would see 99% of items currently taxed at 12% move to the 5% bracket, while 90% of goods in the 28% slab would shift to 18%-creating sub...