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FMCG to Pass on Tax Benefits, Reduces Prices for GST Relief
July 12, 2017
Consumers who were worried about inflation under the GST regime have now something to rejoice- FMCG companies are slashing the prices of their commodities and passing on the tax benefits provided to them under the GST regime to their customers. Marico, HUL, ITC, and many other companies have reduced prices on goods manufactured on and after July 1.
This Sunday, HUL slashed the prices of several products including soaps and detergents. For instance, the 250gm Rin bar that cost Rs. 18 is now selling at Rs. 15.
The companies are offering benefits to their consumers by either reducing the prices or increasing the quantities while leaving the prices unchanged.
