For other categories where GST rates are going up, we don’t intend to increase prices,” said Vivek Gambhir, managing director of GCPL. The discounts ranged from 2-22% on select food and grocery items on which the tax burden is lower under GST. The retailer had segregated all its products according to the GST tax slabs that they were to come under, explained a spokesperson for the Future Group. Online retailer Amazon India said it has made a successful transition to GST. It said GST will support higher government revenue generation through improved tax compliance and administration, both of which will be positive for the country’s credit profile.

Source: Mint July 02, 2017 18:22 UTC