Tata Play, formerly known as Tata Sky, has been directed by the NAA to deposit the profiteered amount in a consumer welfare fund with an interest rate of 18 percent.
The National Anti-profiteering Authority (NAA) on Thursday asked direct-to-home (DTH) operator Tata Play to deposit Rs 450 crore profiteered amount. The NAA said Tata Play earned the amount by not passing on input tax credit (ITC) benefits after the introduction of goods and services tax (GST).
Tata Play, formerly known as Tata Sky, profiteered from subscribers between the period of July 1, 2017, and January 1, 2019.
The DTH operator has been directed to deposit the profiteered amount in a consumer welfare fund with an interest rate of 18 percent within a period of three months.
"The Respondent is directed to deposit the amount profiteered in two equal parts, of Rs 225,09,03,629 in the Central Consumer Welfare Fund (CWE) and Rs 225.09.03.629 in the particular/tabulated State Consumer Welfare Funds as per the provisions of Rule 133 (3) (e) of the CGST Rules, 2017 along with interest of 18 percent," the order stated.
The NAA stated that if Tata Play did not comply, the monetary amount would be reclaimed in accordance with the terms of the CGST Act, 2017.