NAA dismisses profiteering charge against Xiaomi
Feb 14, 2020, 20:20 IST
New Delhi, Feb 14 () The National Anti-Profiteering Authority (NAA) has dismissed complaint against Chinese mobile phone-maker Xiaomi for not passing the benefit of reduced GST rate on power banks to consumers.
The complainant had alleged that the company had not passed on Goods and Services Tax (GST) rate cut benefit on Xiaomi-MI Power Bank 2i Red (10000 mAh).
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The NAA said the battery sold by the company is classified as 'Lithium-ion' which attract 18 per cent GST with effect from July 26, 2018.
Whereas, the complainant had alleged that the tax rate was reduced to 18 per cent with effect from January 1, 2019, from 28 per cent earlier, but there was no change in selling price of the product.
"We do not find the present case to be a case of profiteering as has been alleged by the applicant," the NAA said in its order dated February 11. JD BALBAL(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)