GST imapct: Colgate-Palmolive cuts prices of toothpaste, toothbrush by 9%

FMCG major Colgate-Palmolive (India) on Saturday said it has reduced prices of toothpastes and toothbrushes by 8-9 per cent to pass on the GST benefits to consumers.

The revised prices are effective for all shipments from July 1, the Colgate-Palmolive (India) (CPIL) said in a statement.

"GST has enabled Colgate-Palmolive (India) to extend to its consumers the benefits of reduction in MRPs by 8 to 9 per cent, for the key categories of toothpastes and toothbrushes," the company said in a statement.

CPIL is working with its trade partners to facilitate an orderly transition in prices.

"The revised prices are effective for all shipments starting the 1st of July, 2017," it added.

FMCG firms are extending the tax benefits under the new GST regime to customers either by reducing the prices or by increasing the weight of the product while keeping the price unchanged.

The GST Council has put daily usage goods as bathing soap, hair oil, detergent powder, soap, tissue papers and napkins under 18 per cent tax slab, while detergents and fizzy beverages like coke and Pepsi are placed under 28 per cent tax bracket.