Interpretation of the law is an important aspect, say executives at FMCG firms
A cross-spectrum of companies has found themselves at the receiving end of notices by the directorate general of anti-profiteering (DGAP) for not passing on the benefits under the goods and services tax (GST).
The current spate of queries has brought the issue of profiteering back into focus after firms such as Hindustan Unilever (HUL), Nestlé and Jubilant FoodWorks were slapped with notices last year. While companies in the latest round, including Proctor & Gamble, ITC, Patanjali, Johnson & Johnson and Samsung, have all reiterated that GST rate reductions have been passed on to…
Source- Business Standard.