Jobaaj Stories
The National Anti-Profiteering Authority (NAA) has ordered the DTH service provider, Tata Play, earlier known as The Tata Sky, to deposit ₹450 crores along with interest in the consumer welfare funds for allegedly profiteering by not depositing the benefit of Input Tax Credit with the customers.
Only after a customer from Karnataka, filed an application with the Director General of Anti-Profiteering (DGAP), the investigation had begun which led to the decision that Tata Play has allegedly profiteered from its customers from the period of 1st July 2017 to 31s January 2019.
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During the investigation, it appeared that the company didn’t pass the benefit of input tax credit to its customers, which became available to the company after the GST payments, as mandated under the Central GST Act
The interest rate to be applied on the late payment of ITC to its customers will be at 18% from the date it started being profited till the date it has deposited the amounts.
After reading the DGAP’s report, the NAA clarified that the only motive of the investigation was to ensure that the benefits of both the tax collection and ITC have been passed on to the end consumer.
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