BN Sharma appointed Chairman of National Anti-profiteering Authority
The Union Government appointed senior IAS officer B.N. Sharma as the 1st Chairman of Technical Members of National Anti-profiteering Authority (NAA) under GST. BN Sharma is 1985 batch IAS officer. Currently, he is Additional Secretary (Revenue) in Finance Ministry.
Last week, the Union Cabinet approved the creation National Anti-profiteering Authority. This body will ensure that the benefits of the reduction in GST rates on goods or services are passed on to the ultimate consumers by way of a reduction in prices.
The establishment of the NAA, to be headed by a senior officer of the level of Secretary to the Government of India with four Technical Members from the Centre and/or the States, is one more measure aimed at reassuring consumers that Government is fully committed to take all possible steps to ensure the benefits of implementation of GST in terms of lower prices of the goods and services reach them.
The "anti-profiteering" measures enshrined in the GST law provide an institutional mechanism to ensure that the full benefits of input tax credits and reduced GST rates on supply of goods or services flow to the consumers. This institutional framework comprises the NAA, a Standing Committee, Screening Committees in every State and the Directorate General of Safeguards in the Central Board of Excise & Customs (CBEC).