Friday, Mar 29 2024 | Time 02:40 Hrs(IST)
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States


Kumar requests retailers to pass on GST reduction benefits to consumer

Hyderabad, Nov 29 (UNI) Telangana Tax Commissioner V Anil Kumar on Wednesday requested retailers to pass on GST reductions benefits to consumer.
Addressing all the major Retailers-- Flipkart India Limited, Readymade dealers, Optical, Jewellery dealers and Supermarkets-- in twin cities of Hyderabad and Secunderabad, Mr Kumar said that the CGST and SGST rates on certain commodities have undergone changes since the introduction of GST. To this effect the GST Council in its 23rd meeting held at Guwahati on November 10, has decided to reduce the GST rate from 28 per cent to 18 per cent, on goods falling under 178 headings, leaving only 50 items under the GST slab rate of 28 per cent.
A large number of items have also witnessed a reduction in GST rates from 18 per cent to 12 per cent, 12 per cent to 5 per cent and so on. All these changes are effective from the midnight of November 14. The benefit of reduction in the GST rate has to be passed on by the Retail suppliers to the consumers by way of commensurate reduction in prices, Mr Kumar said and requested to pass on the benefit to the consumers where ever there was tax reduction under GST Act.
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