Anti-profiteering: Follow the non-existent rules

The problem that India Inc faces is how to comply with the anti-profiteering rules. That's because no rule exists

Shyamal Majumdar

The National Anti-Profiteering Authority (NAA) is super-busy these days. The authority, which is supposed to ensure that India Inc does not make unfair gains by charging high prices from consumers in the name of the goods and services tax (GST), is apparently flooded with complaints against many companies that have not passed on the November reduction in GST rates (from 28 per cent to 18 per cent) for most fast moving consumer goods (FMCG) and consumer durable products. The authority is obviously taking its job seriously and has already issued notices to many companies, including ...