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Indian Cabinet Green-Lights GST Anti-Profiteering Authority

by Mary Swire, Tax-News.com, Hong Kong

17 November 2017


The Indian Cabinet on November 16 launched the National Anti-profiteering Authority (NAA) in relation to the Goods and Services Tax and approved the appointment of senior staff.

The NAA is intended to stop businesses from unduly profiting from the changeover to the new centralized GST.

Where it considers that such activity is occurring, the NAA has the power to order the business concerned to reduce its prices or return the undue benefit, with interest, to the recipient of the goods or services.

If the undue benefit cannot be passed on to the recipient, a business will be required to deposit the profit to the Consumer Welfare Fund. In extreme cases, the NAA can impose a penalty on a business entity and can order the cancellation of its GST registration.

In a statement, the Cabinet confirmed that: "The establishment of the NAA, to be headed by a senior officer of the level of secretary to the Government of India with four technical members from the centre and/or the states, is one more measure aimed at reassuring consumers that Government is fully committed to take all possible steps to ensure the benefits of implementation of GST in terms of lower prices of the goods and services reach them."

This follows the announcement on November 14 that the goods and services tax (GST) treatment of more than 200 goods and services would be altered, mainly to narrow the scope of the top, 28 percent rate. Additionally, the Council recommended changes in GST rates on a number of goods to rationalize the rate structure with a view to minimizing classification disputes.

TAGS: tax | business | India | goods and services tax (GST) | enforcement | services

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