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TOG NEWS

No dictate, even Appeal works; FMCG does the needful
By TOG News Service
Nov 22, 2017

TOG News Service, NEW DELHI, NOV 22, 2017: FMCG companies, including ITC, Dabur, HUL and Marico, said to have cut prices of various products to pass on the benefits of GST rate reduction to end-consumers. The companies said they will extend the price reduction to other categories, which have also seen tax rate cuts. The development comes a day after the government asked the firms to pass on lower GST rates to consumers.

The Goods and Services Tax (GST) rate was reduced on 178 items, including detergents, shampoos and beauty products, from 28 per cent to 18 per cent from November 15.

HUL remains committed to passing on the benefits of GST reduction to the consumers, the spokesperson added. Earlier in the day, Dabur India said it has cut prices of existing stocks across categories such as shampoos, skin care and home care by 9 per cent. The company said it had also revised the MRP of fresh production with immediate effect which will hit the shelves by next month.

Yesterday, CBEC Chairperson Vanaja Sarna in a letter to all major FMCG companies had pointed out the need to immediately revise the MRP on all the products for which the tax reductions have been announced by the GST Council.

Items on which tax rate has been cut from 28 per cent to 18 per cent include chewing gum, chocolates, coffee, custard powder, dental hygiene products, creams, after-shave, deodorant, detergent and washing power, razors and blades, cutlery, batteries, goggles, wrist watches and mattress. Tax rate on condensed mil, refined sugar, pasta curry paste, diabetic food, and bamboo or cane furniture has been cut from 18 per cent to 12 per cent.