THE WHAT? L’Oréal India has been found guilty of profiteering by the National Anti-Profiteering Authority (NAA), according to a report by The Economic Times.
THE DETAILS The company has been found guilty of not passing on GST rate cut benefit, which is worth over Rs 186.39 crore to its consumers.
As part of an investigation by the Directorate General of Anti Profiteering (DGAP) into the company’s tax between 15th November, 2017, and 31 December, 2018, the DGAP found that L’Oréal India hadn’t passed on the benefits of a tax cut from 28 to 18 percent.
This was found on a number of goods such as face wash, shampoo, hair colour, conditioner and select make-up products.
THE WHY? The NAA rejected L’Oréal’s claim it had passed on the benefit, stating the company had profiteered Rs 186,39,57,508 on account of denial of rate cut benefit to customers.
“The authority directs the Respondent to commensurately reduce the prices of the impacted goods,” the NAA order said.
Aesthetic products generally refer to a broad category of items designed to enhance or improve one's appearance, often focusing on skincare, beauty, and personal grooming. These products are typically used to maintain or enhance physical attractiveness and may include a wide range of items intended for both professional and personal use. Here are some common types of aesthetic products:
-
Skincare Products: Including cleansers, moisturizers, serums, and treatments designed to address various skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
-
Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows used to enhance facial features and achieve desired looks.
-
Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
-
Fragrances: Perfumes and colognes used to enhance personal scent and attractiveness.
-
Dental Care Products: Toothpaste, mouthwash, whitening treatments, and dental floss aimed at maintaining oral hygiene and enhancing smile aesthetics.
-
Personal Grooming Tools: Including razors, electric shavers, trimmers, and grooming kits used for hair removal and personal hygiene.
-
Beauty Devices: Devices such as facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
-
Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
