Symphony Coolers is profiteering
See attached friends. This symphony coolers had a MRP of 13999 in July. After govt reduced gst from 28% to 18% the MRP should have been reduced to 12500. Instead the MRP has been maintained at 13999. Symphony and its seller Cloud Business India must be booked. more
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GST reduction is applicable on goods manufactured from August 18 onwards. Dt of mfg is important. Also Govt has no control MRP of product. Also GST is applicable on mfg cost. If MRP is 13K, mfg cost would be around 5K/6K only. 10% reduction in GST will be around Rs. 500 or 600/- max. more
Oct 18
Similar cases of profiteering by other manufacturing companies have been raised earlier. This indicates that the disease is wide spread. It is up to the Govt to decide how implementation of their decision to reduce GST on certain products/ services is to be regulated. The benefit of reduction MUST come to the customer, not only those who raise these issues, but to millions of other customers who continue to purchase at the MRP applicable before the GST reduction was announced. Evolving systems is the responsibility of Govt & compliance does require a closed-loop feed back system. more
Oct 18
It seems that the the 10% reduction in GST has been accommodated by offering discount. Original 13999-1399.9= 12599.1. However, I do agree that such adjustment must have been shown in MRP (which is right of the customer) rather than offering as a favor by the Company. more
Oct 18
