Hotline: 1800 102 2007
X
Search Business Opportunities
Jul, 01 2017

Price of Everyday Dairy Whitener expected to undergo reduction: Nestle

Under GST, which got implemented from June 30 midnight, there will be no tax on fresh milk

FMCG giant, Nestle India said that it will pass on benefits of reduced tax rate under GST on various products such as milk powder to consumers once the new tax regime kicks in.

There has been considerable reduction in GST rate on milk powders and consequently the price of Nestle Everyday Dairy whitener is expected to undergo commensurate reduction, the company said in a statement.

Under GST, which got implemented from June 30 midnight, there will be no tax on fresh milk.

The company stated, "In categories where there are reductions in taxes, appropriate price reductions would be put into effect for stocks manufactured from July."

Nestle India further said there would be a transition time before new price stocks are available in the market.

Suresh Narayanan, Chairman & MD, Nestle India, said, "We believe that over time, this (GST) will unleash economies of scale and economies of efficiencies that can be quite significant."

He said, "The company is passing on the benefits of lower taxes, wherever applicable, to its consumers."

Comment
Related opportunities
  • Others Food Service
    About Us: Let’s get chai pe high with CHAI KE DIWANE!!!, Chai..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Juices / Smoothies / Dairy parlors
    About: Chaai Resto” has a team of highly motivated individuals with..
    Locations looking for expansion Karnataka
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Bars, Pubs & Lounge
    About Us: A multi-award winning, trendy resto-bar by Rachel Goenka, located..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Bars, Pubs & Lounge
    About Us: Amidst the hustle and bustle of the city lies Baraza..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities