Hyderabad: 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 10th November, 2017 at Guwahati, has recommended the reduction of the GST rate from 28% to 18%, on goods falling under 178 headings, leaving only 50 items under the GST slab rate of 28%. That, the large number of items has also been observed a reduction in the GST rates from 18% to 12%, 12% to 5% and so on. All these changes have been effective from the 15th November, 2017 vide Notification No.41/2017. That, the advantage of reduction in the GST rate has to be passed-on by the sellers to the consumers by way of a commensurate reduction in the prices.
The V. Anil Kumar, IAS., Chief Commissioner of State Tax and J. Lakshmi Narayana, Addl. Commissioner (ST), Enforcement Wing, have conducted a meeting at Commissioners Conference Hall and addressed to all the major Fast-Moving Consumer Goods (FMCG) Companies/ Distributors and major supermarkets in twin cities pointed out the need immediately revise the MRP on all the products in which the reduction of GST has been reduced vide notification to the reference cited and pass on the benefit to the consumers effective from 15-11-2017. The representatives from HUL, ITC Ltd, Colgate Palmolive, P & G, Godrej Consumer, Dabur India, Wipro Ltd, Future Retail, Heritage Foods, Emami, etc., and also major supermarkets namely MORE, RELIANCE, D-MART, RATNADEEP, METRO, MAX HYPER, SPAR, and Q-MART has attended and agreed that the benefit of reduction in the GST rate passed to the Consumers.
