Govt seeks monthly reports on pricing after GST rate cuts from Sep 22

In the circular, which is seen by Business Standard, the CBIC directed principal chief commissioners to compile commodity-wise price data from trade associations

The Central Board of Indirect Taxes and Customs (CBIC), in a circular dated September 9, has asked its field formations to monitor and submit monthly reports on price changes of everyday goods such as butter, cheese, shampoo, toothpaste, biscuits, chocolates, cement, and medicines after the goods and services tax (GST) rate rationalisation kicks in from September 22. 

In the circular reviewed by Business Standard, the CBIC directed principal chief commissioners to compile commodity-wise price data from trade associations and field units, both before and after the new rates are implemented. The exercise will continue for six months to check whether