KVIC is profiteering
See attached. 1st bottle was purchased by us in oct 2017 with mrp 130 from amazon (made by KVIC - sold by online seller) and was manufactured in june 2017 before gst
Gst on cosmetics was reduced from 28 to 18 pct in nov 2017.
Even now 11 months later the Khadi KVIC product has same mrp of 130.
This means Khadi KVIC has profiteered by 10% 13 rupees from each bottle. Imagine volumes.
I really hope anti profiteering authorities will book them despite they being Govt agency. more
Gst on cosmetics was reduced from 28 to 18 pct in nov 2017.
Even now 11 months later the Khadi KVIC product has same mrp of 130.
This means Khadi KVIC has profiteered by 10% 13 rupees from each bottle. Imagine volumes.
I really hope anti profiteering authorities will book them despite they being Govt agency. more
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Thanks Ms.Chithra for acknowledging my comment . My calculations was backwards . That is Rs. 130 , is Product price + 28% GST . So the basic price before GST is Rs, 101.5 , On that 18% , the new GST ,the MRP will be 119.77 , rounded off to 118.Actually MRP should be printed by the manufacturer including all profit margins and GST . But in this case the product had already been distributed and reached the dealer retailer . In this case the retailer is authorized to print or add a sticker to the the product on the decreased price . The extra 10% paid [ 28-18 ]at the first sales will be refunded by the Government . in the converse case of Price increase due to increased GST after the manufacture they can't put up the new price , and were given 6 months to sell at old rate . more
Oct 13
The MRO of the co.modity is Rs. 130 . BUT THERE IS A DISCOUNT OF Rs. 12 from the MRP. That is , Rs. 118 is the new MRP. WE DONT SEE ANYTHING WRONG AT ALL . WHERE IS THE PROFITEERING ? Kindly correct me. more
Sep 24
For ur kind understanding they have to lower mrp. Discount is by amazon not khadi. more
Oct 13
There should be direct hot line set up by govt. to register complaints from consumers regarding gst rules being overlooked by sellers for the sake of profit. And initiate action on basis of such complaints. Govt. should also not have an excuse that nothing came to their notice. more
Sep 24
