Anti-profiteering body can act sans complaints

Categories: GST Recent News, News
No Comments

Consumer complaints are not the only trigger for the National Anti-Profiteering Authority (NAA) to act, said its chairman B.N. Sharma. Mock purchases can be made by NAA offices to check a trader’s invoice for profiteering.

“This invoice could later be cancelled and the cancelled invoice be taken cognisance of for checking out matters if need be,” he said, participating in a special session on ‘Anti Profiteering in GST’, organised by the Merchants Chamber of Commerce and Industry (MCCI). The NAA was set up under Section 171 of the Central GST Act, 2017 to check whether trade and industry were passing on rate reductions under the Goods and Services (GST) Tax. Besides interested parties, the NAA chairman, as a civilian, could also take note of any instance, he said.

Citing instances of some tax payers increasing prices of products whose rates have been reduced, he said, “Industry has to first pass on the benefits and then increase prices, say two months later, in a justifiable manner.” MCCI president Vishal Jhajharia said as per the Lok Sabha proceedings of January 4, 2019, NAA had issued orders against nine businesses which were found not to have passed on rate cut benefits to the tune of ₹559.8 crore.

Read More at: