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Government monitoring FMCG prices after GST reforms, e-commerce platforms also under scrutiny
GST: Government sources stated that the central government is monitoring whether e-commerce platforms are passing on the benefits of the GST rate reduction on FMCG items. They stated, "We are monitoring price changes. Regional offices are monitoring, and we will receive the first report from them by September 30th."
The government has started tracking whether the advantage of the GST rate cut on FMCG items is translating into savings for consumers. Government sources said on Tuesday that they are getting complaints of not seeing the anticipated price cuts on certain e-commerce sites for daily needs items. Regional offices are tracking price movements.
They stated, "We are monitoring price changes. Regional offices are monitoring, and we will receive the first report from them by September 30th." They stated, "We do not want any immediate response to such complaints."
Effective September 22nd, the Goods and Services Tax (GST) has become a two-tier structure of 5 percent and 18 percent. The previous rates of 5, 12, 18, and 28 percent have been merged into two rates of 5 percent and 18 percent. This has reduced the prices of 99% of daily use items.
