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GST Council panel to select National Anti-profiteering Authority

Jul 26, 2017 09:23 IST

GST Council panel to select National Anti-profiteering AuthorityThe Goods and Services Tax (GST) Council in July 2017 constituted a selection committee to identify members and head of the National Anti-Profiteering Authority.

The announcement was made by the Union Finance Ministry on 25 July 2017.

The selection committee will be chaired by Cabinet Secretary PK Sinha.

What will the authority do?

The National Anti-Profiteering Authority is tasked with ensuring that benefits of lower tax rates under GST are passed on to consumers.

It would be headed by a secretary-level officer of the Government of India, and will have four technical members from both the state and central governments.

According to anti-profiteering rules, complaints received on not transferring benefits will be examined by a Standing Committee comprising officers from state and central governments and nominated by the GST Council.

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The Standing Committee is empowered to refer cases requiring detailed enquiry to the Director General of Safeguards, who will then give his recommendations to the National Anti-profiteering Authority.

The authority can seek to recover the profiteered amount, the undue profit earned from not passing on gains from lower taxes, along with an 18 percent interest. It can also levy a penalty.

If the undue benefit cannot be passed on to the recipient, it can be ordered to be deposited in the Consumer Welfare Fund.

In extreme cases the National Anti-profiteering Authority can impose a penalty on the defaulting business entity and even order the cancellation of its registration under GST.

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