Patanjali held guilty of not passing on GST rate cut to consumers
By MYBRANDBOOK
Patanjali Ayurved had denied consumers the benefit of a reduction in GST rates, the National Anti-profiteering Authority (NAA) has asked the firm to deposit the profiteered amount of ₹75.08 crore in the Consumer Welfare Fund (CWF).
The FMCG firm allegedly did not pass on the benefit of a GST rate reduction that came into effect in November 2017, and also hiked the base price. Anti-profiteering provisions are applied if the benefit of a tax cut on any supply of goods or services, or the benefit of input tax credit, is not passed on to the recipient by way of a price cut. An application to invoke the provisions can be made by an interested party or a Commissioner or any other person.
The NAA said Patanjali did not fix the new MRPs on the impacted SKUs (stock keeping units) and, instead, shifted the responsibility to its distributors and retailers, who continued to sell the products at the old rates. The respondent had violated the provisions of Section 171 (1) of the CGST Act, it said. Section 171 does not allow the respondent to suo moto decide on any other modality to pass on the benefit of a tax rate cut.
Therefore, any benefit of tax rate reduction passed on to a particular recipient or customer cannot be appropriated or adjusted against the benefit of tax rate reduction due to another recipient or customer, observed the NAA. Hence, ‘netting off' cannot be applied in the present case as the customers have to be considered as individual beneficiaries, and cannot be compared with dumped goods and netted off, it added.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
WIPRO LTD.
OPTIEMUS INFRACOM
INFOSYS TECHNOLOGIES PVT. LTD.
TALLY SOLUTIONS PVT. LTD.
Technology Icons Of India 2023: Shailendra Katyal
Shailendra is instrumental in Lenovo achieving the no.1 position in PC...
Technology Icons Of India 2023: C P Gurnani
CP Gurnani (popularly known as ‘CP’ within his peer group), is the...
Technology Icons Of India 2023: Anil Kumar Aggarwal
Anil Agarwal is an Indian billionaire businessman who is the founder a...
CSCs enabling rural India digitally empowered
Common service centres (CSCs) are digital access points under the Digi...
TCIL continues to strengthen India with its technology expertise
TCIL undertakes consultancy & turnkey projects in the field of Telecom...
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
EXCLUSIVE NETWORKS SALES INDIA PVT. LTD.
Exclusive Networks is a globally trusted cybersecurity specialist hel...
IRIS GLOBAL SERVICES PVT. LTD.
Iris Global services is one of the leading distribution houses that d...
SUPERTRON ELECTRONICS PVT. LTD.
Supertron deals in servers, laptops, components, accessories and is a...