3 - Methodology for Determination of Penalty for Enterprises Under Section 27(B) of the Act
CCI (Determination Of Monetary Penalty) Guidelines, 2024 Chapter II METHODOLOGY FOR DETERMINATION OF PENALTY FOR ENTERPRISES UNDER SECTION 27(b) OF THE ACT
Contents
Acts
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Penalty determination methodology allows adjustment of turnover-based fines considering gravity, role, duration, cooperation and compliance programmes. The Guidelines set a methodology under Section 27(b) whereby the Commission may consider up to thirty percent of an enterprise's average relevant turnover ... Summary
Penalty determination methodology allows adjustment of turnover-based fines considering gravity, role, duration, cooperation and compliance programmes.
The Guidelines set a methodology under Section 27(b) whereby the Commission may consider up to thirty percent of an enterprise's average relevant turnover or average income as a starting point, and adjust that amount subject to the legal maximum based on factors including nature and gravity of contravention, duration, role in the conduct, coercive measures, repetition, admission, evidence of limited involvement, cooperation, voluntary termination, and implementation of a competition compliance programme. Relevant turnover is generally calculated over three preceding years and must be supported by audited financial statements or certified figures with an affidavit; global turnover may be used if necessary.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.