Question

Which of the following is/are correct about National Anti-Profiteering Authority (NAA)?
1. It has been constituted under the Income Tax Act.
2. It ensures that the reduction in the rate of tax is passed to the recipients.

Select the options given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Answer 1

Option B

More Information

■ National Anti-Profiteering Authority (NAA) :-

• The National Anti-Profiteering Authority (NAA) has been constituted under Section 171 of the Central Goods and Services Tax Act, 2017 to ensure that the reduction in the rate of tax or the benefit of the input tax credit is passed on to the recipient by way of commensurate reduction in prices.

• Further, the following steps have been taken by the NAA to ensure that customers get the full benefit of tax cuts:

☆ Holding regular meetings with the Zonal Screening Committees and the Chief Commissioners of Central Tax to stress upon consumer awareness programs;

☆ Launching a helpline to resolve the queries of citizens regarding registration of complaints against profiteering.

☆ Receiving complaints through email and the NAA portal.

☆ Working with consumer welfare organizations to facilitate outreach activities.

_________

Answer 2

Which of the following is/are correct about National Anti-Profiteering Authority (NAA)?

1. It has been constituted under the Income Tax Act.

2. It ensures that the reduction in the rate of tax is passed to the recipients.

Select the options given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2