Consumer durable firm Whirlpool of India has been found guilty by the National Anti-Profiteering Authority (NAA) of not passing on GST rate cut benefit worth over Rs4.07 lakh to its refrigerator buyers.
It was found in an investigation that on supply of refrigerator Whirlpool FP313D Protton Roy Mirror the company did not pass on the benefit of GST rate cut with effect from 1 July, 2017.
Whirlpool had increased refrigerator’s basic price when the GST rate was reduced to 28%. The authority has asked the company to reduce the price of the product.
“Such a coincidence is incomprehensible, wrong and unheard of which shows that the respondent has deliberately tried to pocket the benefit of tax reduction to enrich himself at the expense of the vulnerable customers,” the NAA said.
On the basis of the pre and post tax rate cut and the details of the outward taxable supplies of the product made during the period from 1 July, 2017 to 31 August, 2018, the profiteered amount has been computed as Rs4,07,451, the NAA said.
The NAA has directed Whirlpool of India to deposit the profiteered amount, along with 18% interest, in consumer welfare funds within 3 months.
News Source: Livemint