"India’s National Anti-profiteering Authority (NAA) has slapped a penalty of Rs. 37.85 lakh on South Korean electronics major Samsung for not passing on the benefits of a cut in goods and services tax (GST) rates on television sets to consumers.
Samsung was fined for not reducing the selling price of 32-inch LED TV 32FH4003 despite a cut in GST rates to 18% from 28% on television sets. An additional fine of Rs. 29,736 was also imposed on the company for not reducing price of power banks, taking the total amount of fine to Rs. 37,85,342."
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