CBIC Monitors Retailers to Ensure GST Rate Cut Benefits Reach Consumers

• CBIC has instructed field officials nationwide to collect price information from dealers and retailers on various goods including food, toiletries, stationeries, consumer durables and medicines before and after September 22 GST rate cuts
• Officials must gather brand names, product sizes, receipts with maximum retail price and tax details, with a submission deadline of September 28 to designated regional office emails
• The monitoring extends to major ecommerce platforms like Zepto, Instamart, Blinkit, Flipkart and Amazon to ensure GST benefits reach end customers rather than being absorbed by intermediaries
• CBIC issued instructions on September 9 for monthly reports on 54 commodities including toiletries, consumer durables, medicines, toys and stationery items, with price tracking continuing for at least six months
• Tax experts estimate the GST rate cuts could help a person earning 50,000 rupees monthly save approximately 1,275 rupees per month on daily essentials, boosting household budgets and consumption power

Source: a2ztaxcorp.net

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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