National Anti-profiteering Authority under GST

National Anti-profiteering Authority under GST

Question: Union Cabinet has given its approval for the creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority (NAA) under GST 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. In how many goods GST Council has given major relief in GST rates?
(a) 178
(b) 208
(c) 188
(d) 158
Answer: (a)
Related Facts:

  • On 16th November, 2017, Union Cabinet has given its approval for the creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority (NAA) under GST 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.
  • The Authority would have the following duties:
  • To determine the allegations;
  • To identify the registered person who is responsible;
  • To order;
  • Reduction in prices;
  • Return to the recipient, an amount equivalent to the amount not passed on by way of commensurate reduction in prices along with interest at the rate of eighteen per cent.
  • Imposition of penalty; and
  • Cancellation of registration.
  • It is important to remember that in the 23rdmeeting held on the 10th November, 2017, the GST Council had recommended major relief in GST rates on certain goods.
  • These rate changes have been brought into effect from the 15thNovember, 2017.
  • On 178 items the GST rate has been brought down from 28% to 18%.
  • There are now only 50 items which attract the GST rate of 28%.
  • The National Anti-Profiteering Authority shall be a five member committee.
  • The committee will be headed by a senior officer of the level of Secretary to the Government of India and will have four Technical Members who are or have been Commissioners of State tax or central tax or have held an equivalent post under existing laws.
  • Committee’s institutional framework comprises the NAA, a Standing Committee, Screening Committees in every State and the Directorate General of Safeguards in the Central Board of Excise & Customs (CBEC).

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=173563
http://pib.nic.in/newsite/PrintRelease.aspx?relid=173537
http://www.cbec.gov.in/resources//htdocs-cbec/gst/AntiprofiteeringWebVersion.pdf;jsessionid=437AEB22BBC7B37B72C4C2190D8F8FD6