New Delhi, Nov. 26 -- The National Anti-Profiteering Authority (NAA) has imposed a fine of over Rs 241.5 crore on P&G Home Products, P&G Hygiene and Healthcare and Gillette India Ltd for not passing on benefits of GST rate cut to the consumers.
According to the Director General of Anti-Profiteering (DGAP), who had investigated the matter, the companies had not passed on the benefit of reduction in the rate of GST from 28 per cent to 18 per cent with effect from November 15, 2017 to the recipients by way of commensurate reduction in the prices of the products.
The DGAP also stated that the base prices of 1,383 goods had been increased by the three companies after the rate of tax on them was reduced, said the NAA order.
The DGAP's investig...