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Govt Sets up Anti Profiteering Body for GST

Govt Sets-up Anti Profiteering Authority

The Union Government has approved the establishment of an anti-profiteering authority for GST to ensure that the consumers do not get short-changed and the benefits of lower GST rates are passed down to them.

The Anti Profiteering Authority will be headed a Union Government secretary-level officer who will serve as the Chairman backed by four technical members “from the Centre and/or the states.”

This paves the way for the immediate establishment of the National Anti-Profiteering Authority (NAA) which is mandated to ensure that the benefits of the reduction in GST rates are passed on to the ultimate consumers by way of a reduction in prices,” a Finance Ministry release said.