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Centre implements competition law penalty provision on ‘global turnover’ basis

ThehindubusinesslineThehindubusinessline · 6m
Centre implements competition law penalty provision on ‘global turnover’ basis

The Competition Commission of India (CCI) is preparing to levy penalties on enterprises based on their global turnover for anti-competitive behavior. The move comes as the Centre has issued regulations allowing the CCI to determine turnover in penalty calculations. Indirect taxes, group sales, and discounts will be excluded from turnover computations, as stated in the CCI's draft regulations. Additionally, the Centre has provided the CCI with the power to issue regulations on settlement and commitment mechanisms in competition cases. Settlement and commitment processes enable companies to address concerns raised by competition authorities and potentially avoid fines or penalties.

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