GST: Nestle 'profiteered' Rs 100 crore

NEW DELHI: A probe by the GST anti-profiteering agency has found that Nestle India has profiteered about Rs 100 crore by not passing on the GST rate cut benefit to consumers, and the FMCG major has suo motu deposited nearly Rs 17 crore in the Consumer Welfare Fund.
The directorate general of anti-profiteering (DGAP) has submitted its report to the National Anti-Profiteering Authority (NAA), in which it has concluded that Nestle India had not reduced prices of certain products in proportion to the cut in GST rate, an official said.