Question

1. Consider the following about the benefits of GST
1. It reduces tax burden on the consumer.
2. Simplifies direct tax regime.

Which of the above are correct?

• A.
  1 only
• B.
  2 only
• C.
  Both 1 and 2
• D.
  None of the above

Answer 1

The correct option is A

1 only
The formation of National Anti-profiteering Authority comes in the background of rate-reduction of a large number of items by GST Council which has made tremendous price reduction effect but the consumers will be benefited only if the traders are making the quick reduction of prices of respective items. National Anti-profiteering Authority (NAA) came into existence ( just after the rollout of GST) for two years to deal with complaints by consumers against companies for not passing on GST rate cut benefits. Extension for NAA, (before its two-year sunset clause) is being seen necessary as there are many pending cases that need to be resolved before its dissolution. NAA can take up the cases by themselves also.