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In this article, we will discuss the Anti Profiteering Authorities appointed to make sure that these rules relating to anti-profiteering are properly adhered by the business houses, traders, and all the other concerned parties.
A three-tier authority structure has been constructed by the GST Council for the purpose of implementation of the said Anti-profiteering rules. This three-tier authority structure comprises of the following:
Except for these three level authorities, Directorate General of Safeguards (DGS) in Central Board of Excise & Customs (CBEC) also form part of this structure.
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They should be appointed by the nomination of the Council.
Currently, Mr. Badri Narain Sharma holds the post of Chairman of the National Anti-profiteering Authority.
Standing Committee shall constitutes of the officers of Central as well as the State Government as recommended by the GST Council.
The main objective of forming the Authority is to implement the Anti-profiteering measure specified in Section 171 of the Central Goods and Service Act, 2017.
Firstly, to make sure that any reduction in the tax rate of any goods or services along with the benefits of input tax credit should be ultimately passed down to the final recipient of goods or services by way of reduced maximum retail prices.
Secondly, to identify the parties which are registered under Goods and service tax and have not passed down the benefit of reduced tax rates or input tax credit to the recipient of final goods or services.
The authority has the power to take actions against such registered taxpayers after it is identified by them or on any application or complaint received from any aggrieved party.
The authority after conducting the due investigation comes to the conclusion that the benefit of reduced tax rates and availed input tax credit is not passed down to the consumer of the goods or services, then it has the power to pass an order of the following effects:
The said interest is to be calculated from the date the benefit is not passed down and a higher amount was collected from the recipient.
If the final recipient is not identifiable then said amount along with the interest is required to be deposited in the Fund.
Above orders passed by the Authority, will be implemented by any of the following authorities on the direction of National Anti-profiteering Authority (NAA):-
Read our article:What is the Impact of the GST on Restaurant Services
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