GST Anti-Profiteering Agency may get extended tenure

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New Delhi : The Anti-Profiteering Agency that was aimed at protecting the consumer interest under the goods and services tax (GST) regime, and was meant to be in place for two years, may remain in place for another two years as the government looks at changes to the GST structure.

Discussions on extending the term has begun and a decision is expected soon after the formation of the new government after the ongoing Lok Sabha elections, the report said, citing senior officials aware of the developments. The last of the seven-phase elections will be held on May 19 while the counting of votes begins on May 23.

The National Anti-profiteering Authority (NAA) is at the top of the watchdog Anti-Profiteering Agency.

“There is a thinking that the National Anti-profiteering Authority’s tenure be extended,” an official told media, adding that there are a number of cases that need to be resolved. The complaints keep pouring in and needs to be decided, another official told media.

GST currently has four tax slabs — 5 percent, 12 percent, 18 percent, and 23 percent. The middle two slabs are expected to be merged to avoid complexities, the report said, adding that the role of the NAA becomes very critical as sectors such as petroleum have not been included in the GST tax structure yet.

Source : ET

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