Tuesday, March 3, 2020, 4:50 AM
Rs 37 lakh penalty on Samsung for not passing GST credit
The National Anti-profiteering Authority (NAA) has ordered Samsung to pay up Rs 37.85 lakhs for not passing on the benefits of lower goods and services tax (GST) rate to consumers on televisions. The authority noted, “The prices of the products affected by the rate reduction were not decreased commensurately, hence violating section 171(1) of the CGST Act 2017,” in its order dated February 27. The NAA further said in its order that Samsung India had increased prices for appropriating the tax reduction 'with the intention of denying the benefit to consumers.' The GST Council has reduced rates on LED/LCD TV sets to 18% from 28% from January 1, 2019.
