Samsonite India fined Rs 25.74 cr, served show-cause for profiteering

Firm accused of not reducing prices of its products after GST Council brought down the tax rate from 28% to 18%

The National Anti-profiteering Authority (NAA) has imposed a fine of Rs 25.74 crore on Samsonite India, a company engaged in the business of manufacturing and selling travel bags,for allegedly not reducing prices of its products after the GST Council reduced the tax rates from 28 per cent to 18 per cent in December, 2017.

The company was also asked to pay 18 per cent interest rate for the period between the amount collected by it from customers and the amount of profiteering deposited. 

NAA asked Samsonite to pay half the amount --Rs 12.87 crore to the Central consumer welfare fund  and the