BN Sharma appointed Chairman of National Anti-profiteering Authority
BN Sharma appointed Chairman of National Anti-profiteering Authority
Written By: Chennabasaveshwar Updated: Tuesday, November 28, 2017, 17:04 [IST]
Subscribe to Oneindia News 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). OneIndia News
Read more at: https://www.oneindia.com/india/bn-sharma-appointed-chairman-of-national-anti-profiteering-authority-2591696.html
Written By: Chennabasaveshwar Updated: Tuesday, November 28, 2017, 17:04 [IST]
Subscribe to Oneindia News 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). OneIndia News
Read more at: https://www.oneindia.com/india/bn-sharma-appointed-chairman-of-national-anti-profiteering-authority-2591696.html
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