Nestle profiteered for 100 crores and is booked
Glad to see action on my concern raised about Nestle not passing gst benefits on cocoa products and other items too. They will now be depositing 100 crores in Consumer Fund. Almost all FMCG companies have profiteered. All members should report and Govt should create a mechanism where somehow these collections flow back to consumer through even lower GST rate or some coupon etc.
An investigation by the Directorate General of Anti-Profiteering (DGAP) has found that FMCG major Nestle India indulged in profiteering of about Rs 100 crore by not passing on GST rate cut benefit to consumers, an official said.
The DGAP, which has submitted its report to the National Anti Profiteering Authority (NAA), had conducted the investigation on a wide range of products of Nestle India and found that the company had not reduced prices of certain products in proportion to the cut in Goods and Services Tax (GST) rate. more
An investigation by the Directorate General of Anti-Profiteering (DGAP) has found that FMCG major Nestle India indulged in profiteering of about Rs 100 crore by not passing on GST rate cut benefit to consumers, an official said.
The DGAP, which has submitted its report to the National Anti Profiteering Authority (NAA), had conducted the investigation on a wide range of products of Nestle India and found that the company had not reduced prices of certain products in proportion to the cut in Goods and Services Tax (GST) rate. more
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