The authority directed the company to pay the difference in price along with 18% interest to the petitioners. This is the second such order against a company by NAA which penalized Pyramid Infratech last week for failing to pass on GST benefits to homebuyers. This is significant as the onus has now been firmly placed on firms to calculate the GST benefits accruing to them and passing them on to consumers. NAA, in an order dated 25 September, upheld a complaint that a Lifestyle International cosmetic product failed to reflect the GST rate cut to 18% from 28% effected in November 2017. The NAA was constituted to check profiteering by companies who failed to pass on benefits of the lower tax rate of many products under the goods and services tax to consumers.

Source: Mint September 27, 2018 13:52 UTC