Corporates to pass GST benefits to consumers: CII

Indian corporates will pass on the benefits of the proposed Goods and Services Tax rate rationalisation to the consumer, the Confederation of Indian Industry (CII) said, as the GST Council meets next week to undertake the exercise, which will bring several consumables in the lower duty slabs.

- Rajeev Jayaswal

“Each rupee of benefit should reach the consumer. CIT is quite clear on that,” its director general Chandrajit Banerjee said.

CII's comments came at a time when the GST Council is scheduled to meet on September 3-4 to discuss the Centre's proposal to slash tax slabs from four to two, potentially making everyday items significantly cheaper ahead of the festive season.

HT had reported on August 27 that some of the council’s members were concerned that manufacturers and suppliers of goods and services might not immediately pass on the benefits of rate cuts to consumers.