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Samsung Fined Over Rs. 37 Lakh For Not Reducing Prices Of TV Post GST Rate Cut

Samsung Fined Over Rs. 37 Lakh For Not Reducing Prices Of TV Post GST Rate Cut

Submitted by • March 3, 2020 www.communicationstoday.co.in

"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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