It has been found that the GST rate cut has now come into effect as an online survey of 16,000 people have told that they are getting more benefits than earlier when the rate cut was actually done.
The consumer reported that from the time period between June 2018 and April 2019 made the most for them as they have got GST rate cut benefits from traders and local businesses effectively.
Also, there is confidence within the consumer community that the household items will be further cost effectively. A consumer finds that items such as shampoo, cosmetics and groceries were the most beneficial category for them.
The government along with the GST council reduced down the GST rate on products from 28 per cent to 18 per cent. Also, there were consumers that stated rate cuts and its benefits on restaurants also.
While another category like home appliances was offering discounts and rate cuts to the consumers as suggested by the online survey. However, there was some percentage of consumers who have shown no benefits reaching to them of the GST rate cut.
In order to provide the rate cut benefits, the GST council had set up the National Anti-profiteering Authority (NAA) to inquire the market over any undue profits made by the companies.
