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Since the 22nd of September, following the reforms made on the Goods and Services Tax (GST), prices of consumer food items have been slashed significantly across a host of categories. This includes everyday as well as indulgent food products - a direct impact of the overhaul since the tax was introduced in 2017. The four tax slabs of 5%, 12%, 18% and 28% were rehashed to 5% and 18% respectively, thus making consumer access to daily essentials as well as premium products more affordable. With the onset of the festive season, brands have shared updated price lists with distributors as well as online platforms.
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One of the most significant price slashes occurred within Amul - where the brand reduced the prices of 700 products - some of which include butter, cheese, ghee, chocolates and ice cream. With rate differences of a minimal as ₹15 for a one-kilo block of paneer to ₹200 for five litres of ghee, the brand’s milk and dark chocolate bars have also witnessed price cuts. In addition to this, they have also slashed prices on their bakery range, condensed milk, peanut spread, potato snacks, UHT milk and malt-based drinks. Along with the dairy brand, other essential products under Dabur’s range - such as Real Juice (formerly ₹130 for 1 litre, now ₹122), Chyawanprash (formerly ₹475, now ₹440) and Hajmola (formerly ₹70, now ₹65) digestive tables have also witnessed the price drop.
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Another dairy brand - Mother Dairy - also reduced the prices of 150 products within their range, which included flavoured milkshakes, UHT milk, cheese cubes and frozen French fries. Consumer brand HUL cut down the prices of everyday essentials such as Bru coffee, Kissan jam and Horlicks whereas ITC reduced the prices of ghee - seen as one of the steepest reductions from ₹1080 for a litre to ₹1010, as well as the famed Marie biscuits. Nestlé India trimmed prices of its most popular Maggi product range as well as Nescafe coffee range where the price of Nescafe Gold dropped by ₹95 - making it the steepest drop in the beverage category. In addition to these, PepsiCo’s Tropicana apple juice, Slice mango juice and bottled drinking water have collectively become cheaper.
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Within the premium food categories, Ferrero’s Nutella and Ferrero Rocher chocolates have dropped prices by ₹50 for 350 grams of the chocolate spread and ₹100 for the chocolates, making it the steepest in their category. Patanjali’s Nutrela soya chunks see a ₹20 drop from ₹210 to ₹190 along with other products such as biscuits, noodles and ghee. Popular coffee chain Blue Tokai has also assured avid coffee drinkers a price cut on their products across their 180+ outlets following the GST 2.0 reform. Other brands to join the reduction bandwagon include Licious, whose range of ready-to-eat products and ready-to-cook products have witnessed a reduction from 12% to 5%; some of which include marinated meals, curries and kebabs.
