2) Discuss the roles and responsibilities of National Anti-Profiteering Authority as a quasi- judicial body in ensuring transparency in the trading industry post GST roll out.(250 words)

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TopicStatutory, regulatory and various quasi-judicial bodies

2) Discuss the roles and responsibilities of National Anti-Profiteering Authority as a quasi- judicial body in ensuring transparency in the trading industry post GST roll out.(250 words)

Reference

Why this question:

The question is to analyse the roles and objectives of the quasi-judicial body of National Anti-Profiteering Authority.

Demand of the question:

This answer is straightforward and direct- one must list down the objectives of National Anti-Profiteering Authority in ensuring transparency and how the institutional mechanism under GST law acts to check the unfair profit-making activities by the trading community.

Directive word:

DiscussThis is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.

Structure of the answer:

Introduction

Start with brief introduction on National Anti-Profiteering Authority.

Body

Discuss the following points in detail:

  • Explain the composition of National Anti-Profiteering Authority.
  • Evolution of NAA.
  • Vision and Mission of NAA – is the institutional mechanism under GST law to check the unfair profit-making activities by the trading community. The Authority’s core function is to ensure that the benefits of the reduction is GST rates on goods and services made by GST Council and proportional change in the Input tax credit passed on to the ultimate consumers and recipient respectively by way of reduction in the prices by the suppliers.
  • Key functions of the authority – to ensure that traders are not realizing unfair profit by charging high price from consumers in the name of GST.to examine and check such profiteering activities and recommend punitive actions including cancellation of Registration.

Conclusion

Conclude with significance of the body.