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GST - National Anti-Profiteering Authority notified; to be closed in TWO years

By TIOL News Service

NEW DELHI, JUNE 20, 2017: THE much-debated and feared Anti-Profiteering Rules have finally been notified. In late evening developments, the Government has constituted the National Anti-Profiteering Authority under Rule 3. The Chairman of the Authority will be of the rank of a Secretary to the Government of India. There will be four Technical Members and they will be Commissioners of State Tax or Central Tax. And they are going to be nominated by the GST Council.

The Council may also constitute a Standing Committee on Anti-Profiteering and it will have officers from the State Tax and Central Tax as its Members. A State level Screening Committee shall be constituted in each State by the State Governments which shall consist of one officer of the State Government, to be nominated by the Commissioner, and one officer of the Central Government, to be nominated by the Chief Commissioner.

The Chairman shall be paid a monthly salary of Rs 2.25 lakh along with other allowances and benefits. The monthly salary of the Technical Member will be Rs 2.05 lakh besides other perks. However, their pension amounts will be deducted from their salaries. The Chairman will hold the post for two years and will retire at the age of 65. However, he will be eligible for re-appointment. The same conditions will apply to the Members also.

The ADG (Safeguards) who has virtually no work today, will be the Secretary to the Authority. How investigation either on complaints received or suo moto is going to be conducted has been detailed. To certain informations the provisions of RTI Act, 2005 will not apply. This is to protect the business confidentiality of information furnished to the Authority. Within a period of three months, the Authority will pass the order whether a registered person has passed on the benefit of reduction in tax rates or not.

The Rules notified also make it clear that the Authority will cease to exist after the expiry of two years unless the Council recommends its continuation.

GST Rollout - Are We Ready? - Episode 2 (Concluded)

GST Roll-Out - Are we ready? - Episode 1

GST Rollout | Episode 2 | simply inTAXicating

GST Rollout | simply inTAXicating

Also See : TIOL TUBE Videos on GST

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