NAA : Rejects DGAP’s report in case of L’Oreal India citing lack of facts/reasons, directs reinvestigation

NAA directs fresh investigation by DGAP in case of L’Oreal India in respect of claim of profiteering to the tune of Rs. 216 crores (approx.) made for not passing the benefit of GST rate reduction on FMCG goods from 28% to 18% w.e.f. November 15, 2017; Notes DGAP’s explanation that an amount of Rs. 19 crores (approx.) could be reduced from the profiteered amount on account of rectification of non-averaging of base price, if so decided by the Authority; Further, notes DGAPs...