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Consumer durables firms, GST body continue to spar over profiteering

Most durables companies say they have passed on GST tax benefits after the 10 percentage point cut in July

gst, tax, it dept
The divergence is owing to the interpretation of the GST law

Home appliance makers, like their counterparts in fast-moving consumer goods (FMCG), will be monitored closely by the National Anti-profiteering Authority (NAA) for not passing on the benefits under the goods and services tax (GST) to consumers.    While durable majors now and FMCG companies earlier have repeatedly said GST rate reductions have been passed on to consumers, the NAA refuses to relent. Last week, the country’s largest consumer goods company Hindustan Unilever (HUL) was slapped with charges of profiteering to the tune of Rs 4.95 billion, which, the firm said ...