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.
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.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 September

20 SEPTEMBER
NEWS
19 SEPTEMBER
NEWS
18 SEPTEMBER
NEWS
17 SEPTEMBER
NEWS

Current Affairs 2018 August

31 AUGUST
NEWS
30 AUGUST
NEWS
29 AUGUST
NEWS
28 AUGUST
NEWS

Current Affairs 2018 July

31 JULY
NEWS
30 JULY
NEWS
29 JULY
NEWS
28 JULY
NEWS