- NAA is the anti-profiteering watchdog of GST which came into existence in 2017.
- The main objective is to make sure that the benefit of tax rate reduction reaches the consumer immediately.
- At the time of GST, implementation Authorities received several complaints saying that the benefit of the input tax credit has not been fully passed on to consumers.
- It has already received two extensions since then and now no extension has been planned.
- NAA’s investigation arm will continue to function in some form under CCI. And this move will reduce the multiplicity of regulators as CCI can handle cases independently.
Question:
Q.1 Recently the government has decided to merge the National Anti-profiteering Authority into one of the following institutions.a. NPCI
b. CCI
c. SEBI
d. NABARD