The government is closely monitoring daily price variations in over two dozen essential commodities - from wheat to tea - to check at early stage any abnormal movement in rates post GST rollout, CBEC Chairperson Vanaja Sarna said. Prices have remained by-and-large under check post Goods and Services Tax (GST) implementation on July 1 and there has been no big instance of supply disruption, the chairperson of the indirect tax body told PTI. GST unified 17 different levies including central excise, service tax and VAT and there were apprehensions of initial hiccups. "The Consumer Affairs Ministry is giving us the daily price, the price variations in common commodities. But in case of some commodities, the tax rate has changed post GST, altering the MRP.

Source: dna August 06, 2017 06:56 UTC