The GST Council’s 45th meeting was held today in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman granted a one-year extension to National Anti-Profiteering Authority (NAA).
The Council took up the matter of how to deal with profiteering cases and decided whether the term of the National Anti-Profiteering Authority will get over after November 30, and instead, the Competition Commission of India (CCI) or any other authority could be given its mandate.
The council did not give CCI or any other authority the power to deal with the profiteering case, instead, it temporarily extended the tenure of NAA for more than one year.
The council is also likely to deliberate on rationalizing an inverted duty structure on the supply chain of certain items, bringing petrol and diesel under GST, extending the GST exemption on Covid-essential items, and deciding the future of profiteering cases since the tenure of the National Anti-Profiteering Authority ends in November.