Hyderabad, Nov 22 (UNI) Telangana Commercial Tax Commissioner V Anil Kumar on Wednesday appealed to the Fast-Moving Consumer Goods (FMCG) industry and Super Market outlets to pass on benefit to the consumers on GST reduction rate.
Mr Kumar who conducted a meeting with the FMCG and Super Markets authorities in twin cities of Hyderabad and Secunderabad, here said that the CGST and SGST rates on certain Commodities have undergone changes since the introduction of GST.
To this effect the GST Council in its 23rd meeting held on November 10 at Guwahati, has recommended the reduction of the GST rate from 28 per cent to 18 per cent, on goods falling under 178 headings, leaving only 50 items under the GST slab rate of 28 per cent.
A large number of items have also witnessed a reduction in GST rates from 18 per cent to 12 per cent, 12 per cent to 5 per cent and so on. All these changes are effective from November 5. The benefit of reduction in the GST rate has to be passed on by the suppliers to the consumers by way of commensurate reduction in prices, he said.
The representatives from HUL, ITC Ltd, Colgate Palmolive, P & G, Godrej Consumer, Dabur India , Wipro Ltd, Future Retail, Heritage Foods, Emami, and also major super markets namely More, Reliance, D-Mart, Ratnadeep, Metro, Maxhyper, Spar, Q-Mart have attended and agreed that the benefit of reduction in GST rate will be passed to the consumers.
Source : http://www.uniindia.com/pass-on-gst-reduction-rates-to-consumers-ct-commissioner/states/news/1054883.html