Consider the following statements about Anti Profiteering authority under GST 1 It ensures that the ...........

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Consider the following statements about Anti-Profiteering authority under GST

1. It ensures that the benefits that accrue to entities due to reduction in the rate of tax is passed on to consumers

2. The concept was developed by World Customs Organisation

Select the correct statements

1 only

2 only

Both

None

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Explanation:

National Anti-profiteering Authority (NAA) under GST
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.
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