NAA: Holds Johnson & Johnson guilty of Rs. 230 crores profiteering, price-increase & rate-reduction 'cannot coincide'

NAA upholds the case of profiteering to the tune of Rs. 230 crores (approx.) against Johnson & Johnson for not passing benefit of rate reduction from 28% to 18% w.e.f. November 15, 2017 vide Notification No. 41/2017 - Central Tax (Rate) on its products i.e. Baby Wipes & Powder; Observes that, there was no case for increasing prices on the intervening night of 14/15th November when the rate reduction happened while clarifying that if there was any increa...