Business News:To provide relief to consumers, Hindustan Unilever Limited (HUL) has spoken a reduction in the prices of many of its popular products. This includes everyday use products like Horlicks, Dove Shampoo, Lux Soap, Kisan Jam and Lifebuoy Soap. Equal to the information given by the company, a 340 ml Dove shampoo snifter will now be misogynist for Rs 435 instead of Rs 490. The price of four packs of 75 grams of Lifebuoy soap has been reduced from Rs 68 to Rs 60. Apart from this, a 200 gram jar of Horlicks will be misogynist for Rs 110, lanugo from Rs 130. At the same time, the price of 200 grams of Kisan Jam has been reduced from Rs 90 to Rs 80.
New prices will be workable from September 22
However, consumers will not get the goody of these new prices immediately. Equal to the telecast issued by HUL, the new rates will come into effect from September 22. The visitor said that a fresh stock of packs with a revised maximum retail price (MRP) or increasingly grams is stuff sent to the markets.
Apart from this, as per the rule, companies will have to inform dealers and state and inside officials well-nigh the new prices by razzmatazz in at least two newspapers.
Prices reduced without GST Council's decision
This step has been taken without the government's directive, in which consumer goods manufacturers were ordered to pass on the benefits of GST reduction to the customers. In the 56th meeting of the GST Council chaired by Finance Minister Nirmala Sitharaman on September 3, it was spoken thattax rates on many items would be reduced.
Under the new decision, the tax structure has been simplified into three slabs:
- 5%
- 18%
- 40%
These products will have zero GST
According to the new rules, some products have been made completely GST self-ruling (0% GST). These include:
- Cheese
- UHT Milk
- Khakhra
- Pizza Bread
- Roti and Paratha
5% GST workable on these
GST on unrepealable supplies items and everyday use items has been reduced from 12-18% to 5%. These include:
- Condensed Milk
- Butter
- Ghee
- Cottage Cheese
- Jams, Sauces and Soups
- Pasta and Namkeen
- Confectionery Items
- Dates, Almonds, Cashews, Pistachios, Figs
- Citrus Fruits and Other Dry Fruits
MRP Transpiration Unliable on Unsold Stock
The government has unliable manufacturers, packers and importers to revise the MRP on unsold stock as per the new GST rates. This transpiration can be implemented till 31 December 2025 or till the stock runs out, whichever is earlier. Union Supplies and Consumer Affairs Minister Pralhad Joshi spoken that MRP revision can only be washed-up in vibrations with tax changes. He unmistakably said that any increase or subtract in price should be washed-up only equal to tax changes. The revised MRP can be shown on the packaging through a sticker, stamp or online print, but the original price should be unmistakably visible.
New packs will be misogynist from September 22
HUL and other FMCG companies will soon send packs with new price tags to the market. It is expected that with this move, the products of everyday needs will wilt cheaper in the coming time and consumers will get uncontrived benefit.
