Jubilant FoodWorks slips 5% after being fined for not passing on GST relief

The stock slipped 5 per cent to Rs 1,321 on the BSE in intra-day trade on Tuesday.

Shares of Jubilant FoodWorks, the operator of Dominos Pizza chain in India, slipped 5 per cent to Rs 1,321 apiece on the BSE in intra-day trade after the company was found guilty of not passing on Goods and Services Tax (GST)-cut benefits amounting to Rs 41.42 crore on sale of some pizza products. It has been directed to deposit the illegal gains with the government.

“The National Anti-Profiteering Authority (NAA) has passed an order in the Anti Profiteering Investigation on the company which has been posted on NAA website on February 4, 2019, concluding a profiteering of Rs 41.42