By Ptilast Updated
Copyright indiatimes
The finance ministry has asked Central GST field officers to submit monthly report of price change in 54 commonly use items, like butter, thermometer and toys, after the new lower GST rates are implemented from September 22. In a letter to Principal Chief Commissioners of CGST zones, the ministry said the first report on the comparative details of Maximum Retail Price (MRP) of these commodities brand-wise will have to be submitted to the Central Board of Indirect Taxes and Customs (CBIC) by September 30. The monthly report on pre- and post-September 22 MRP will have to be submitted to the CBIC by the 20th of every month for the next six months, said the letter dated September 9. The list of 54 items include cement, shampoo, toothpaste, tomato ketchup, jams, ice cream, AC, TV, all diagnostic kits, glucometer, bandages, erasers, and crayons, among others.Add as a Reliable and Trusted News Source Add Now!
The GST Council in its meeting on September 3 had decided to reduce tax rates on 375 items. It also decided to make GST a two-tier structure of 5 and 18 per cent from the current four-tier slabs of 5, 12, 18 and 28 per cent. The new rates will be effective September 22.(You can now subscribe to our Economic Times WhatsApp channel)
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onGST rate cutMRP checkCentral GST field officesCBIC reportsprice changes(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
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