Heritage Foods to cut dairy product prices following GST reduction

Dairy company Heritage Foods said on Thursday it would reduce prices across its product range following the government's decision to cut goods and services tax (GST) rates on dairy products.

The company said it would pass on the full benefit of the GST Council's rate rationalisation to consumers ahead of the festive season, effective September 22.

Heritage Foods reduced the maximum retail price (MRP) of long shelf-life UHT milk by Rs 3 per litre, while fresh milk prices remained unchanged as the category is exempt from GST, the company said in a statement.

The company cut ghee prices by Rs 50 per litre and butter by Rs 50 per kilogram. Cheese prices were reduced by Rs 50 per kg, while paneer was lowered by Rs 25 per kg.

In the ice cream segment, the company reduced prices by Rs 35 for 950ml packs and Rs 20 for 700ml packs.

The price cuts come as India prepares for the festive season, when dairy consumption typically increases.

Heritage Foods said the "consumer-first move" would help families celebrate festivals with high-quality dairy products at more affordable prices.