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₹11 Lakh Fine Slapped on Cloudtail for Profiteering Under GST
March 12, 2019
Amazon’s biggest retailer Cloudtail which is a joint venture between R Narayana Murthy’s family office Catamaran Ventures and the ecommerce giant itself was recently fined ₹1,079,000 in an alleged case of profiteering under the GST regime.
The National Anti-Profiteering Authority (NAA) that imposed the fine said that it took the action based on a complaint that said that Cloudtail had no reduced the prices of printing cartridges even after the government reduced the GST rate on the same to 18% from previous 28%. Although Cloudtail said that the complaint was not valid since it’s only a retailer and it was HP that controlled the MRP, NAA rejected the plea and imposed the fine.
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