GST rate cut: FMCG firms slash product prices

Products whose GST rate was rationalised to 18% included chewing gum, chocolates, preparation for facial make-up, shaving and after-shave items, shampoos, etc

Consumer goods companies have begun reducing product prices following a directive by the government on Monday to pass on the benefits of lower goods and services tax (GST) to consumers quickly or face action. 

Ghaziabad-based Dabur India on Tuesday slashed prices by 9 per cent on existing stocks of shampoos, skincare and home-care products.

“The company is passing on the benefits by providing primary discount of 9 per cent on existing stocks to its trade partners,” Lalit Malik, Dabur India’s chief financial officer, said in a statement. 

Mumbai-headquartered Procter & Gamble, meanwhile, announced price-offs on leading brands Tide, Ariel, Pantene,