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Anti-Profiteering Authority-NAA
November 17 , 2017
2437 days
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- Union Cabinet has recently given its approval for the creation of Anti-Profiteering Authority under GST.
- It is mandated to ensure that the benefits of the reduction in GST rates on goods or services are passed on to the ultimate consumers by way of a reduction in prices.
- It will be headed by a senior officer of the level of secretary to the Government of India with four technical members from the centre and/or the states.
- The "anti-profiteering" measures enshrined in the GST law provide an institutional mechanism which comprises the NAA, a Standing Committee, Screening Committees in every State and the Directorate General of Safeguards in the Central Board of Excise & Customs.
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