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MNCs in India accused of not passing on benefits from tax cuts: Report

The companies had to pass on the benefits to customers after the government reduced GST to 18 per cent from 28 per cent, and to 5 per cent from 12 per cent on many products

Reuters  |  New Delhi 

Indian tax authorities have alleged that a number of big multinational companies have not passed on benefits from a tax cut to customers, a senior government official told Reuters. The official said, for example, that the tax authorities have alleged that US consumer goods maker Procter & Gamble did not pass on more than $35 million in tax benefits which were meant to have gone to its customers. Separately, the authorities are also investigating South Korea's Samsung Electronics and US drug maker Johnson & Johnson among others, the senior government official, speaking on ...

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First Published: Thu, April 25 2019. 17:52 IST