The Central Board of Excise and Customs (CBEC) has written to Fast-Moving Consumer Goods (FMCG) companies to pronto revise the maximum retail price (MRP) on all products with respect to the latest reductions in Goods and Services Tax (GST) rates.

The benefit of reduction in the GST rate has to be passed on by the suppliers to the consumers by way of commensurate reduction in prices. The reduction in GST rates is also expected to encourage domestic demand and investment.

Source: Times Now