GST NAA finds Philips India guilty of profiteering Rs 4.53 lakh
- Jun 8, 2020 | Divita S Gupta
The National Anti-Profiteering Authority has found consumer electronics manufacturer Philips India guilty of not passing on GST rate cut benefit of more than Rs 4.53 lakh to consumers.
The Directorate General of Anti Profiteering has been ordered to investigate a consumer complaint about a food processor which was sold at its regular price and not the reduced price even after the implementation of reduced GST rate of 28% from the original 29.80% before implementation of GST. The DGAP has computed the amount of profiteering between the time period of July 1, 2017, to December 31, 2018, based on documents and data provided by Philips India and concluded that they have profiteered by an amount of ₹4,53,949.
Philips India has been directed to deposit this amount along with 18% interest annually to the Consumer Welfare Fund within three months. As Philips India has been engaged in the supply of several other products which have been affected due to the implementation of the Goods and Services Tax, the DGAP will launch an investigation of the profiteering aspect regarding other impacted products which have been supplied by Philips India.