TMI BlogNational Anti-Profiteering Authority in GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... usly happening because the supplier was not passing on the benefit to the consumer and thereby indulging in illegal profiteering. National Antiprofiteering Authority is therefore being constituted by the central Government to examine whether input tax credits availed by any registered person or the reduction in the tax rate have actually resulted in a commensurate reduction in the price of the goods or services or both supplied by him, this is to ensure that the consumer is protected from arbitrary price increase in the name of GST. Constitution of the Authority: The National Anti-Profiteering Authority shall be a fivemember committee consisting of a Chairman who holds or has held a post equivalent in rank to a Secretary to the Gove ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with interest at the rate of eighteen per cent. from the date of collection of the higher amount till the date of the return of such amount or recovery of the amount not returned, as the case may be, in case the eligible person does not claim return of the amount or is not identifiable, and depositing the same in the Consumer Welfare Fund; (c) imposition of penalty; and (d) cancellation of registration. Application to the Authority: All applications from interested parties on issues of local nature shall first be examined by the State level Screening Committee constituted in each State by the State Governments consisting of an officer of the State Government, to be nominated by the Commissioner, and an officer of the Cent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and (c) the time limit allowed to the interested parties and other persons who may have information related to the proceedings for furnishing their reply. The evidence or information presented to the Director General of Safeguards by one interested party can be made available to the other interested parties, participating in the proceedings. The evidence provided will be kept confidential and the provisions of section 11 of the Right to Information Act, 2005 (22 of 2005), shall apply mutatis mutandis to the disclosure of any information which is provided on a confidential basis. The Director General of Safeguards can seek opinion of any other agency or statutory authorities in the discharge of his duties. The Director General o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by way of commensurate reduction in prices, the Authority may order- (a) reduction in prices; (b) return to the recipient, an amount equivalent to the amount not passed on by way of commensurate reduction in prices along with interest; (c) imposition of penalty as specified under the Act; and (d) cancellation of registration under the Act. Any order passed by the Authority shall be immediately complied with by the registered person failing which action shall be initiated to recover the amount in accordance with the provisions of the Integrated Goods and Services Tax Act or the Central Goods and Services Tax Act or the Union territory Goods and Services Tax Act or the State Goods and Services Tax Act of the respectiv ..... X X X X Extracts X X X X X X X X Extracts X X X X
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