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GST: Government Asks Companies to Advertise Rate Hikes in Newspapers
July 12, 2017
In a bid to ensure that businesses don’t increase the prices using GST as an excuse, the Centre has asked the firms to advertise such moves in at least 2 newspapers. However, they can slap new price stickers on their old stocks for three months since GST rollout i.e. July 1.
As per a recent notification by the ministry, about 50% of the consumer goods attract a 0% GST and 10% of the remaining attract only 5% GST. It also said that the genuine cases of increase in prices under GST regime will be few.
