Anti-profiteering body dismisses complaint against China's Xiaomi

In a relief to Chinese smartphone maker Xiaomi, the goods and services tax (GST) profiteering watchdog has dismissed a complaint against it for allegedly not passing benefits of reduced rates on power banks to consumers. 

The National Anti-Profiteering Authority (NAA) observed that the Xiaomi Mi power bank was attracting 18 per cent GST rate before and after January 1, 2019, therefore there had been no change in the price of the product.

“We do not find the present case to be a case of profiteering,” NAA said in its order. 

The complaint was filed by a company called LocalCircles, which alleged that the Chinese company had not reduced the price of the product after the reduction of GST rate from 28 per cent to 18 per cent ordered by the government from January 1, 2019.