• Home
  • Article
  • GST Anti-Profiteering Authority likely to Merge with CCI

Reetu | May 31, 2022 | Views 864

GST Anti-Profiteering Authority likely to Merge with CCI

GST Anti-Profiteering Authority likely to Merge with CCI

The National Anti-profiteering Authority (NAA) is set to merge with the Competition Commission of India (CCI) by the year end as the tenure of the GST Anti-Profiteering Authority is expired.

All pending cases of NAA likely to be taken up by the Competition watchdog CCI. Close to 400 cases are pending before it which dealt with customer complaints regarding not receiving tax cut benefits, as of May 2022.

Constitutionality of the NAA already under challenge across several High Courts.

The GST Council, whose 35th meeting is scheduled for June 21st under new Finance Minister Nirmala Sitharaman, has decided to grant a one-year extension until November 30, 2020, as the authority continues to receive allegations of profiteering by corporations, according to the official.

The NAA was established on November 30, 2017, with the appointment of BN Sharma as Chairman. The NAA has issued 67 orders in various situations so far. The National Anti-Profiteering Authority (NAA) was established under Section 171 of the Central Goods and Services Tax Act, 2017 to ensure that the advantage of a lower tax rate or an input tax credit is passed on to the recipient in the form of a price reduction.

It is principally established by the central government to examine if input tax credits obtained by any registered person or tax reductions are passed on to the customer and he/she is safeguarded against random price increases in the name of GST.

StudyCafe Membership

Join StudyCafe Membership. For More details about Membership Click Join Membership Button

Join Membership

In case of Any Doubt regarding Membership you can mail us at [email protected]

Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"

Author Bio

My Recent Articles

CBIC notifies member for AAR in Union Territory of Chandigarh Centre releases GST Compensation of Rs.17000 crore to States and UTs SEBI Notifies Amendment to Regulations regarding Issue of Capital and Disclosure Requirements 48th GST Council Meeting will be held on 17th December 2022 Beware of Scammers: SBI warns Customers not to click suspicious links; Stay away from Instant Loan apps View All Posts

Leave a Reply