The move follows on the recent sharp reduction in the GST rates of a large number of items of mass consumption.
The Union Cabinet has given nod for the creation of the posts of chairman and technical members of the National Anti-profiteering Authority (NAA) under GST.
The apex body is aimed at ensuring that the benefits of the reduction in GST rates on goods or services are passed on to the ultimate consumers by way of a reduction in prices, the government said in a release.
The NAA would be headed by a senior officer of the level of Secretary to the Government of India with four technical members from the Centre and/or the states.
It is worth mentioning here that the GST rate has now been slashed from 28 per cent to 18 per cent on goods falling under 178 headings.
There are now only 50 items which attract the GST rate of 28 per cent. Likewise, a large number of items have witnessed a reduction in GST rates from 18 per cent to 12 per cent and so on and some goods have been completely exempt from GST.