Profiteering News

News

Samsung fined over ₹37 lakh for not reducing prices of TV post GST rate cut

Government had cut rates on TVs and power banks at the recommendation of GST Council, effective January 2019Plea alleged that Samsung profiteered by not passing on the tax cut benefits to customers

2 min read2 Mar 2020
News

Firms may get to raise prices after transferring GST cuts

Liberty to increase price as per the business cycle may come as a relief to companiesFirms are not sure how long they should keep a price after they reduce it to pass on benefits

3 min read5 Aug 2019
Opinion

Opinion | The GST anti-profiteering law needs corrective action

The government has missed an opportunity to address a couple of serious lacunae in the law

4 min read28 Jun 2019
Politics

Govt unveils tough rules to prevent GST evasion

First GST Council meet under new govt focuses on checking profiteeringExperts said the imposition of a higher penalty for GST profiteering was a tough measure

2 min read22 Jun 2019
Politics

Gaps in anti-profiteering policy put businesses in spot of bother

Non-transfer of rate cut benefits to consumers has led to action against biz by anti-profiteering watchdogBusinesses, which were pulled up by National Anti-profiteering Authority (NAA), have moved courts

3 min read5 Mar 2019
Politics

Orders issued against 9 businesses for not passing ₹560-cr GST rate cut benefits

In a written reply to a question in the Lok Sabha, Minister of State for Finance Shiv Pratap Shukla said the GST Council has recommended goods and services tax rate reduction in respect of 400 groups of goods and 96 groups of services.

1 min read4 Jan 2019
Companies

HUL considering legal options against GST penalty order

The national anti-profiteering authority had found Hindustan Unilever Ltd (HUL) guilty of not passing on GST rate cut benefits to consumers

2 min read26 Dec 2018
Companies

Hindustan Unilever fined ₹223 crore for GST profiteering

GST anti-profiteering authority, the National Anti-profiteering Authority says HUL has allegedly profiteered to the extent of 383 crore since GST rate cut in November 2017

1 min read25 Dec 2018
Industry

Surge in complaints against FMCG firms over GST rate cut benefits

The surge in complaints hints at the challenges faced by FMCG firms in ensuring that prices of all products are reduced in line with GST rate cuts and rebates on inputs

3 min read27 Nov 2018
Industry

GST anti profiteering clause puts FMCG firms in a fix

Hiking prices and even reducing prices post GST has been a challenge, says HUL chairman Sanjiv Mehta

2 min read25 Oct 2018
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