Explanation:

About NAA:
?    The "anti-profiteering" measures enshrined in the GST law provide an institutional mechanism to ensure that the full benefits of input tax credits and reduced GST rates on supply of goods or services flow to the consumers. This institutional framework comprises the NAA, a Standing Committee, Screening Committees in every State and the Directorate General of Safeguards in the Central Board of Excise & Customs (CBEC).
?    The National Anti-Profiteering Authority is an assurance to consumers of India. If any consumer feels that the benefit of tax rate cut is not being passed on, then he can complain to the authority.  
?    A five-member committee, headed by Cabinet secretary PK Sinha, revenue secretary Hasmukh Adhia, CBEC chairman Vanaja Sarna and chief secretaries from two states, has been tasked to select the chairman and the members of the authority.
?    The anti-profiteering authority is envisaged as an interim body that will function only for two years from the date on which the chairman assumes charge.
?    Under the anti-profiteering mechanism approved, there will be a statelevel ‘screening committee’ and a ‘standing committee’ at the national level.
?    All the complaints of profiteering will first go to these bodies, those of local nature to the screening committee and national level to the standing committee.
?    If these two bodies find merit in the complaints, they can refer them for further investigation to the directorate general of safeguards (DGS). The DGS would need to submit a report within three months to complete the investigation and send the report to the anti-profiteering authority. The authority will decide on the methodology to evaluate if the benefits of lower taxes under GST including those arising due to seamless input tax credit have not been passed to the consumer.