National Anti-Profiteering Authority (NAA) under GST National Anti-Profiteering Authority (NAA) – the institutional mechanism under the GST law to check the unfair profit-making activities by the trading community. It is a statutory body under GST act. The Authority’s core function is to ensure that the benefits of the reduction in GST rates on goods or services made by the GST Council is passed on to the ultimate consumers by way of a reduction in prices by traders. NAA is to examine and check such profiteering activities and recommend punitive actions including cancellation of licenses. The NAA will be headed by a senior officer of the level of Secretary to the Government of India. There will be four Technical Members from the Centre and/or the States. (Total 5 members) When the NAA certify that there is antiprofiteering in a specific case, it can order the supplier/business concerned to reduce its prices or return the undue benefit availed by it along with interest to the recipient of the goods or services. If the undue benefit cannot be passed on to the consumer, it can be ordered to be deposited in the Consumer Welfare Fund. In extreme cases, the NAA can impose a penalty on the defaulting business entity and even order the cancellation of its registration under GST. Entities that hike inordinately, citing GST as a reason, will be checked by this body. This body was constituted for the tenure of two year only, after which it'll be dissolved. This article is a part of Basics of Economics series brought to you by Behere Classes, the best commerce classes in Pune. (www.behereclasses.com) Best 11th commerce classes in Pune, 11th commerce class in Pune, Commerce classes in Pune city, 12th commerce classes in Pune, 12th commerce class in Pune, best CS foundation classes, CA classes in Pune, 11th 12th commerce classes near me, BBA coaching classes in Pune, BBA classes near me, BCom classes in Pune, BCom classes near me, BBA tuitions near me, BCom tutions near me, commerce tutions near me, Commerce classes near me, best commerce classes near me, CA foundation classes, CS foundation classes, best CA foundation classes