Slice of GST: From chips to shampoo, FMCG cos plan to stuff more into Rs 5 and Rs 10 packs
Prime Minister Narendra Modi had announced sweeping GST reforms in his Independence Day speech, the first such major revamp. The Centre proposes to scrap the 12% and 18% slabs, while retaining 5% and 18%, with most daily use items taxed at the lowest slab. “Biscuits, which have nearuniversal usage, are overwhelmingly consumed down to the smallest village, priced at Rs 5-10,” said Varun Berry, executive vice-chairman and managing director, Britannia Industries.
NEW DELHI: Makers of daily essentials and staples, from snacks and confectionery to shampoo and tea, said they are working on restoring grammage in the smaller packs of Rs 5 and Rs 10 as it may not be feasible to cut those prices when the overhauled goods and services tax (GST) is implemented over the next month or so.
