GST anti-profiteering watchdog NAA imposes Rs 90-crore fine on Nestle

The goods and services tax (GST) profiteering watchdog imposed a penalty of Rs 90 crore on fast-moving consumer goods giant  Nestle  for not passing on the benefit of rate reduction to consumers. The national anti-profiteering authority (NAA) noted that the methodology adopted by  Nestle  to pass on GST rate-cut benefit was ‘illogical, arbitrary, and illegal, which has resulted…