Badri Narain Sharma reappointed NAA Chief
Appointments Committee of Cabinet, chaired by Prime Minister Narendra Modi, has reappointed Badri Narain Sharma as chairman of National Anti-profiteering Authority (NAA) for 2 years. B N Sharma a 1985-batch IAS officer from Rajasthan was due for retirement on August 2019.
About National Anti-profiteering Authority (NAA)
NAA was constituted in 2017. It ensures that consumers get benefit of reduced prices under Goods and Services Tax (GST).
Structure: At present NAA has 3 members- J C Chauhan, Chairman, Tax Tribunal, Himachal Pradesh and Indian Revenue Service (IRS) officers R Bhagyadevi and Amand Shah.
Mandate: To protect consumer interests by ensuring that benefits of input credit and reduction in GST rates on specified goods or services are passed on to them by way of commensurate reduction in prices.
NAA has power to cancel registration of any entity/business if it fails to pass on to consumers benefit of lower taxes under GST regime, but it would probably be last step against any violator.
As per Anti-Profiteering Mechanism’s structure in GST regime-
- Local level Complaints are 1st sent to state-level screening committee.
- National level Complaints are marked for standing committee.
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Month: Current Affairs - July, 2019