Companies

Abbott Healthcare found guilty of profiteering ₹96.59 lakh

PTI New Delhi | Updated on March 06, 2019 Published on March 06, 2019

The anti-profiteering authority has found Abbott Healthcare guilty of not passing on the benefit of GST rate reduction to the tune of ₹96.59 lakh to consumers and asked the Mumbai-based company to deposit the amount in the consumer welfare fund.

While investigating a complaint, the Directorate-General of Anti Profiteering found the company had not passed on the GST rate cut benefit while selling ‘Melaglow Rich (Niainamide) Depigmentation & Glow Restoration Cream’. The tax rate on the product, which was 30.06 per cent in the pre-GST regime, was reduced to 28 per cent with the rollout of the GST, and further to 18 per cent with effect from November 15, 2017.However, during these periods, the base price of the product was increased from ₹202.06 to ₹230.90 per unit which resulted in an increase of the selling price and denial of passing the benefit of tax reduction to the customers.

Published on March 06, 2019
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