GST rate cut: FMCG firms asked to update MRPs immediately

Central Board of Excise and Customs (CBEC) chairperson Vanaja Sarna has written to fast-moving consumer goods (FMCG) companies asking them to immediately revise the maximum retail price (MRP) on all products in line with the GST rate cut announced by the GST Council on 10 November. The GST Council, in its Guwahati meeting on 10 November, announced GST rate cut for 178 items, leaving only 57 produc…