New Delhi: Patanjali Ayurved Limited, patronized by Baba Ramdev, has suffered a major setback. Patanjali has been fined Rs 75.08 crore by the National Anti-Profiteering Authority (NAA).
The National Anti-Profiteering Authority has said that despite the reduction in Goods and Services Tax (GST) on washing powder, Patanjali had increased its prices and the benefit of this deduction did not reach the customers. Patanjali will have to deposit an amount of 18 per cent GST with a penalty of Rs 75.08 crore to the Consumer Welfare Fund of the Central and State Governments.
According to a report published in Business Today, the NAA said, “In violation of the Central GST Act, Patanjali did not pass on the benefit of tax cuts to customers.” Therefore, a show cause notice has also been issued to them.
The NAA has said that GST was first reduced from 28 to 18 percent and then in November 2017 to 18 to 12 percent. But even after this, Patanjali did not give benefits to its customers.