Big relief for Xiaomi; National Anti-Profiteering Authority dismisses profiteering charge

By: |
Published: February 14, 2020 10:48:53 PM

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.

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).

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).

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

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1DoT withdraws order on no coercive action against telcos; directs urgent compliance to SC order
2Oppo Reno 3 Pro launch date: Phone with 44MP dual punch-hole selfie camera to debut in India in early March
3FM Sitharaman’s infra play in Budget 2020 will boost logistics sector; here’s how