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Will pass on GST rate cut benefits to consumers: Nestle

Press Trust of India  |  New Delhi 

In line with other FMCG players, today said it will make price revisions in accordance with the recent Goods and Services rate cut.

Last week, Council reduced rates on over 200 items ranging from chewing gum and chocolates to beauty products and wigs and wrist watches to provide relief to consumers and businesses.

As many as 178 items of daily use were shifted from the top bracket of 28 per cent to 18 per cent while a uniform 5 per cent tax was prescribed for all restaurants, both air- conditioned and non-AC.

"In keeping with our abiding principle of passing on related reduction benefits to our consumers, will pass commensurate benefits in line with recent reduction announcement," spokesperson said.

The company is looking into the details of rate changes made across categories and will make price revisions, spokesperson said, adding, there will be a transition time before new price stocks are available in the market.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, November 12 2017. 20:22 IST