New Delhi: Anti-profiteering watchdog has held Glenmark Pharmaceuticals Ltd guilty of not passing GST rate cut benefit on a sanitary napkin to customers.
The all-powerful GST Council headed by the finance minister in July 2018 had reduced the tax rate on a sanitary napkin from 12 per cent to nil and it was expected that the companies would pass on the entire benefit of a rate cut to the customers.
The Directorate General of Anti-Profiteering (DGAP) found that the decision of cutting goods and services tax (GST) rate to nil resulted in an additional burden of 8.39 per cent on account of non-availability of input tax credit (ITC).
However, the price should have come down as the rate cut was sanitary napkin was 12 per cent but Glenmark Pharmaceuticals did not reduce the prices.