Kerala Finance Minister Thomas Issac on Monday said with the Goods and Services Tax (GST) coming into effect, prices of 85 per cent items should come down.
Issac also announced that the state government had come out with the revised tax rates compared to what it was prior to July 1.
"Traders, who sell items on more than the MRP, will be proceeded against with the relevant laws in the GST Act under the anti-profiteering law," he told reporters.
He said items like chicken, unbranded atta, maida would have no tax following the imposition of GST, while tax on soaps, toothpastes and hair oils will come down by 12 per cent.
He released a list of 101 items indicating the previous and the new tax rates.
--IANS
sg/nir
Disclaimer: No Business Standard Journalist was involved in creation of this content
