A notification in this regard is expected to be issued by the Finance Ministry in the next few days, the official said.
The NAA was formed in November 2017 under Section 171A of the Goods and Services Tax (GST) Act with the objective of curbing profiteering. The authority was mandated to pass on the benefit of any reduction in GST rates and input tax credit to consumers.
Initially this authority was constituted for two years but later its tenure was extended to November 2021.
The tenure of the NAA was again extended by one year in the 45th meeting of the GST Council, the apex policy-making body on GST-related matters, held in September last year. It was also decided in that meeting that after November 2022, only CCI would look into complaints related to profiteering.
According to that decision of the GST Council, the existence of NAA will cease after November 30, 2022. In such a situation, the Directorate General of Anti-Profiteering (DGAP) will investigate all complaints of profiteering lodged by consumers against the goods and service providers and then submit its report to the Competition Commission.
The official said a separate cell is likely to be set up in the Competition Commission of India to look into cases related to GST profiteering. CCI was constituted under the Competition Act, 2002.
Source: navbharattimes.indiatimes.com
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