Nestlé found to have profiteered Rs 98 crore from GST rate cuts

The Director General of Anti-Profiteering (DGAP) has charged the fast moving consumer goods (FMCG) major Nestle with profiteering. The company has been found to have deprived its customers of goods and services tax (GST) cuts of Rs 98 crore by not revising the prices of chocolates, baby food items and Maggi noodles among other products in line with the new rates, sources said. The DGAP last week s…