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Govt monitoring FMCG prices on e-commerce after GST cut
This follows reports that some online retailers may not be fully passing on the tax benefits to consumers, prompting GST field formations to monitor price trends across platforms.
Effective September 22, the GST structure was overhauled — consolidating the previous 5%, 12%, 18%, and 28% slabs into two tiers: 5% and 18%. The move is expected to reduce prices on approximately 99% of daily-use items.
The government is closely tracking whether the recent GST cuts on FMCG goods are translating into lower prices on e-commerce platforms, according to an ET Retail report.
This follows reports that some online retailers may not be fully passing on the tax benefits to consumers, prompting GST field formations to monitor price trends across platforms.
Effective September 22, the GST structure was overhauled — consolidating the previous 5%, 12%, 18%, and 28% slabs into two tiers: 5% and 18%. The move is expected to reduce prices on approximately 99% of daily-use items.
Earlier, on September 9, the finance ministry directed Central GST field officers to submit monthly price monitoring reports for 54 commonly used products. The list includes items such as butter, shampoo, toothpaste, tomato ketchup, jams, ice cream, and air conditioners, the report added.
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