National Anti-profiteering Authority (NAA) UNDER GST IN INDIA


Union Cabinet of Government of India  has  approved creation of posts of Chairman and Technical Members of National Anti-profiteering Authority (NAA), thus paving way for its immediate establishment; NAA comprising of a Standing Committee, Screening Committees in every State and Directorate General of Safeguards in the Central Board of Excise & Customs (CBEC) shall ensure that benefits of reduction in GST rates are passed on to ultimate consumers by way of a reduction in prices; Affected consumers may apply for relief to Screening Committee in the particular State and directly to Standing Committee where incident of profiteering relates to an item of mass impact with ‘All India’ ramification; Where NAA confirms a necessity to apply anti-profiteering measures, it can order supplier / business concerned to reduce its prices or return the undue benefit availed by recipient of goods or services or deposit in Consumer Welfare Fund and in extreme cases, impose a penalty on defaulting business entity and even cancel its registration.

SOURCE: PIB PRESS RELEASE

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