Monday, September 27, 2021
Markfed Sept to Nov

mrsptu

Innocent Admission

Samsung gets show cause, asked to deposit Rs 37 lakh

- Advertisement -

New Delhi, March 2, 2020-

The National Anti-Profiteering Authority (NAA) has issued a show-cause notice to Samsung Electronics India for not passing on GST benefits to customers.

The authority has also asked Samsung to deposit an amount of Rs 37,85,342, equivalent to the determined profiteered amount along with reducing the prices commensurately.

The NAA passed the order in a matter related to supply of LED TVs by the electronics major, whereby the company had not reduced the prices even after GST was reduced on the products.

“The respondent is directed to deposit an amount of Rs 37,85,342 in the (Consumer Welfare Fund) CWF of the central and the concerned state government, as the recipients are not identifiable, along with 18 per cent payable from the dates from which the above amount was realised by the respondent from its recipients till the date of its deposit,” said the authority’s order.

Samsung will have to deposit the amount within three months from the passing of the order, failing which the amount would be recovered by the commissioners concerned of CGST and SGST, said the order dated February 27.

The order said: “The respondent has denied the benefit of tax reduction to the customers in contravention of the provision of Section 171(1) of the CGST Act, 2017. Therefore, he is apparently liable for imposition of penalty under Section 171(3A) of the CGST Act, 2017. Therefore, a show cause notice be issued directing him to explain why the penalty prescribed under the above sub-section should not be imposed on him.”

The anti-profiteering authority also directed commissioners of CGST and SGST to monitor the execution and adherence to the order by ensuring the amount profiteered by Samsung is deposited.

“A report in compliance of this order shall be submitted to this authority by the commissioner cncered within a period of 4 months from the date of receipt of this order,” said the order signed by NAA Chairman B.N. Sharma.

Samsung did not respond to a query sent by IANS.  (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

20,369FansLike
112,371FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

Narendra Modi create

India calls upon the democratic world to come to grips with ‘radicalisation’ – by D.C. Pathak

Prime Minister Narendra Modi could not have used a better occasion than the Shanghai Cooperation Organization (SCO) summit hosted by Tajikistan on Sep 17...
Modi Biden Scott Morrison Yoshida Yoga

The Hocus Pocus about Quad and AUKUS – by Saeed Naqvi

Robert Blackwill, US ambassador at the time of anti-terror fireworks over Afghanistan, had established a tradition of seating guests at lunch around a circular...
Recep Tayyip Erdogan

Israel-Turkey ties exhibition of President Erdogan’s hypocrisy – by Shujaat Ali Quadri

Turkish President Recep Tayyip Erdogan's hypocrisy in proclaiming himself as the "defender" of the Palestinian cause, while maintaining military, diplomatic and economic alliance with...

SPORTS

Health & Fitness

Eyes Testing

Blurring vision? Read the signs

New Delhi, Sep 27, 2021- Senior citizens account for 12 per cent of the world's population and the number is set to grow over 22 per cent by 2050. With age, one may be prone to age-related retinal or eye problems. One of the most common vision problems experienced by the elderly is Age-related Macular Degeneration (AMD), which affects...

Gadgets & Tech

error: Content is protected !!