Godrej,Nestle cut prices to pass GST benefits

Mumbai Nov 23: In a move to pass the reduced tax benefits to the people top FMCG companies have reduced the prices of goods/increased the pack size as the GST council has reduced the tax rates on 178 items from 28 to 18 %.

The items whose tax rates were decreased include chewing gum, chocolates, coffee, custard powder, dental hygiene products, creams, after-shave, deodorant, detergent and washing powder, razors and blades, cutlery, batteries, goggles, wrist watches and mattress.

The following companies have reduced the prices

Nestle :

The company has lowered prices or added extra weight in the following categories such as noodles, pasta, chocolate, coffee and nutrition products.

Godrej Consumer Products Ltd (GCPL)

The prices of hair colors, air fresheners, liquid detergents and deodorant categories have been reduced by 7-10 %.

Earlier Dabur, ITC, Marico, HUL have announced the reduction in prices as the GST was reduced.