Provisions of Anti-Profiteering Mechanism Under GST Law

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Provisions of  Anti-Profiteering Mechanism Under GST Law

Anti-profiteering measures have been incorporated under GST law to provide the benefit of reduction in GST rates to the consumers in terms of reduced prices and not allow more profit margins to the businessmen.

Statutory laws of anti-profiteering:

Section 171 of the CGST Act, 2017 and Rules 123 to 137 of the CGST Rules deals with the provision of anti-profiteering authority under GST law and the said authority is headed by National Anti-profiteering Authority.

Protection for Consumer’s interest:

Any reduction in the rate of tax on any supply of goods or services or the benefit of input tax credit to consumers by way of commensurate reduction in prices of the said goods or services, if this is not done, the consumer’s interest is protected by the National Anti-profiteering Authority which may order

Relevant Extract of Section 171 of the CGST Act, 2017

Section 171 of the CGST Act, 2017 prescribes Anti-profiteering measures.

Appointment of Chairman, salary, allowances, and Members of  Anti-Profiteering Authority:

The appointment of the Chairman and Members of the authority, the Chairman and Members of the Authority shall be appointed by the Central Government on the recommendations of a Selection Committee to be constituted for the purpose by the Council.

Secretary to the Anti-Profiteering Authority:

Rule 125 of the CGST Rules prescribes that an officer not below the rank of Additional Commissioner (working in the Directorate General of Anti-profiteering) shall be the Secretary to the Authority.

Tenure of the Anti-Profiteering Authority:

The CGST Rules prescribes that the Authority shall cease to exist after the expiry of four years from the date on which the Chairman enters his office unless the Council recommends otherwise.

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