The impact of the GST cut is becoming evident. Following auto companies, FMCG companies have also started reducing prices. One of the nation's most prominent FMCG companies, Hindustan Unilever (HUL), has announced price reductions on its popular products, including Dove shampoo, Lifebuoy soap, Horlicks, coffee, and more.
Customers will benefit from these price cuts starting September 22, when the Goods and Services Tax (GST) reform is implemented. In an advertisement released to a newspaper, the company has issued new rates after the GST reduction on several products. The company mentioned that products with new prices would soon reach the market. Let’s see how much the prices have decreased for different items.
Source: aajtak
How much have prices dropped?
Source: aajtak
Source: aajtak
Only Two GST Slabs Now
After the GST Council meeting, Finance Minister Nirmala Sitharaman announced significant changes to GST. Previously, there were four slabs under GST: 5%, 12%, 18%, and 28%. Starting from September 22, there will only be two slabs: 5% and 18%. This significant change will lead to a substantial reduction in the prices of essentials from food to shampoo, toothpaste, and more, directly benefiting consumers. In light of this, HUL has also announced major price cuts on products.
