Brands Accused of No Benefits of GST Reduction: Survey Report

As per a recent survey report, brands are acting sluggish in providing the benefits of GST rate reduction to the consumers. The report also stated that consumers also want to want anti-profiteering investigation should not be limited to just the product that has been complained about.

This consumer survey is conducted by local circles about transferring the benefits of GST Here, we have listed several major benefits of GST (Goods and Services Tax) in upcoming months that every Indian should know reduction to consumers. The survey report also stated that ‘only 12% of the people said that they have got the full benefit of lower tax. whereas 23% said that only partial benefit of tax deduction has been provided to consumers. And the large number of people around 47% have the opinion that no benefit of the tax deduction is given to consumers. However, the remaining 18% said that they were not fully aware of it.

It is important to mention that the purpose of implanting Goods and Services Tax ( GST ) is to facilitate an easy and stable tax structure in the country. After successfully implementing the GST, several meetings of the GST Council have taken place. In some of the GST rates on various products and services Grab the information of revised GST slab rates on consumer products in India, Although the GST council finalized the slab rates like 5%, 12%, 18% and 28% have been reduced.

The survey report also mentioned that all the deduction in GST Rates has been introduced with the sole purpose to make the product and services much more affordable for the consumers but many corporates/brands are not following or implanting them to make more profit. They are accused of not providing the benefits of the GST rate reduction to the consumers. Resulting in profit to brand but not beneficial for consumers.