Consumer Goods Firms Rush to Meet New GST Deadline

Officials say cos are printing new packaging with updated prices to reflect the reduced taxes

- Suneera Tandon

Consumer goods companies are racing against a two-week deadline to transition to the new dual-slab Goods and Services Tax (GST) regime, aiming to minimize disruption and financial losses for retailers and distributors.

Officials of these companies told Mint that they have already started printing new product packaging with updated prices to reflect the reduced taxes. This new stock is expected to hit the retail shelves by 22 September, when the revised taxes take effect.

Other companies hope the government will allow them to paste stickers with the revised prices on existing warehouse stocks to prevent losses on items already in the market. Industry bodies are also making representations to the government, requesting relaxations such as an extension of the implementation date.