National Anti-Profiteering Authority
National Anti-Profiteering Authority (NAA) is a statutory mechanism established under Section 171 of the Central Goods and Services Tax Act, 2017. It seeks to ensure that the benefit of tax reduction or the input tax credit is realised by the recipient by the way of commensurate reduction in prices by suppliers.
The authority has urged the tax officials to ensure that the benefit of GST rate cut on COVID-19 related materials are realised by the consumers. It also called for the prioritisation of rapid response to common consumer complaints and asked to forward them to the state-level screening committee and the Standing Committee in Anti-Profiteering.
Written by IAS POINT