Festive season relief: Prices of soap, shampoo and daily groceries slashed
New Delhi (The Uttam Hindu): The direct benefits of the government's GST reforms have started reaching the common consumers. Just before the festive season, the country's major FMCG companies have announced price cuts on their everyday products. Major companies like Hindustan Unilever (HUL), ITC, Procter & Gamble (P&G) and Emami have reduced the prices of everything from soap, shampoo, toothpaste to baby diapers and kitchen items. These new and cheaper rates will come into effect across the country from Monday, September 22.
Companies have taken this step to directly pass on the benefits of recent changes to tax slabs made by the GST Council to their customers. Experts believe that this reduction could boost the market during the festive season and also highlight the positive impact of GST reforms on the country's economy.
Which company made what cheaper?
Companies have started releasing new price lists for their distributors and customers which include products from almost every category of everyday use.
Procter & Gamble (P&G): Leading company Procter & Gamble (P&G) has reduced the prices of its shampoo brands Head & Shoulders and Pantene as well as shaving products like Gillette and Old Spice. Now Head & Shoulders Cool Menthol Shampoo (300ml) will be available for Rs 320 instead of Rs 360 while Old Spice After Shave Lotion (150ml) will be available for Rs 284 instead of Rs 320. Apart from this, the company has also made products like Vicks and Oral-B toothbrush cheaper.
Emami: Similarly, domestic company Emami has also announced price cuts on its popular products such as BoroPlus Antiseptic Cream, Navratna Ayurvedic Oil, Zandu Balm and Kesh King Oil. For example, BoroPlus Cream (80 ml) will now be available for ₹155 instead of ₹165 and Navratna Oil (180 ml) has been reduced from ₹155 to ₹145.
Hindustan Unilever (HUL): The country's largest FMCG company, Hindustan Unilever (HUL) has cut prices across its wide range. The company has reduced the prices of soaps like Lux and Lifebuoy as well as shampoos like Dove and Sunsilk. Kitchen items like Kissan Jam and Ketchup, health drinks like Horlicks and Boost, and Bru Coffee have also been made cheaper. A 4-pack of Lifebuoy soap will now be available for Rs 60, while a 850 gm Kissan Ketchup will cost Rs 93.
ITC also pledged to pass on the full benefits.
ITC, the leading company, also announced that it will pass on the full benefits of the GST reforms to its customers. B. Sumant, ITC's executive director, described these reforms as "transformative for both consumers and businesses" and said they will boost demand and growth.
What are the new GST rules?
The GST Council recently decided to reduce the four tax slabs to two (5% and 18%) while a special rate of 40% will apply to luxury goods. The new rates, effective September 22nd have made most everyday items cheaper.