The GST anti-profiteering watchdog, National Anti-profiteering Authority (NAA), on Monday imposed a fine on consumer goods giant HUL of Rs.383 crores. Few applicants complained to GST anti-profiteering watchdog that although GST had been reduced from 28% to 18% on a large number of products w.e.f. 15.11.2017 but HUL has not reduced the maximum retail process (MRP) of products which are sold by them.
The applicants had also alleged that the HUL had increased the base prices of products, so that the MRPs continued to be same even after reduction in rates of GST.
Something about the anti-profiteering law:
* The anti-profiteering law requires businesses to pass on the benefit of rate reduction to consumers. You can also file a complaint against the company not reducing price of product due to the reason specified in law. Your identity shall not be disclosed to others.
* It’s not a perfect law and it can’t stop companies to increase prices of their products. There are no specific guidelines for companies to follow-up under this law.
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