Union Cabinet approves setting up National Anti-profiteering Authority

Posted on:19 Nov 2017 09:00:01
Union Cabinet approves setting up National Anti-profiteering Authority
19 November 2017 Current Affairs: The Union Cabinet Affairs approved setting up of National Anti-Profiteering Authority (NAA), an apex body with an overarching mandate under Goods and Services.

It also approved the creation of posts of Chairman and Technical Members of National Anti-profiteering Authority (NAA) under GST regime.

The NAA is tasked with ensuring full benefits of reduction in tax on supply of goods or services flow to consumers. It is responsible for applying antiprofiteering measures in event of reduction GST rate on the supply of goods or services or if the benefit of input tax credit is not passed on to recipients.

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