GST 2.0: CBIC requires field configurations to monitor prices of 54 elements

The Central Council for Innight Customs and Customs (CBIC) has written to field formations to track the prices of more than 50 elements over the next six months and monitor their price trends for a smooth transfer of price discounts under commodity and services tax.

In general, CBIC 54 included for this purpose, which includes daily nutrients such as butter, cheese, ghee, shampoo, toilet soap, face powder and coloring; Related medical and health items such as contact lenses, celebrities, medicines, medicines and diagnostic tools, as well as electronics such as air conditioners, dishwashers and TVs as well as cement.

“You are asked to collect commodity price data from field formations and commercial links in light of your jurisdiction, before changing the price and after implementing them (before and after September 22, 2025) during the next six months,” CBIC said in one of the two months, adding that the first report of this such was sent every September.

This step comes after the rate of commodity tax and rational services by the Commodity and Services Tax Council on September 3, as it reduced the rates of more than 450 elements by rationalizing tax panels to two main plates of 5 % and 18 % with an average rate of 40 %. Many daily use and basic elements have been brought into 5 % less and 18 % lower panels in an attempt to make them more expensive. The rate changes are applied as of September 22.

Although the anti -monitoring authority has not been established, the Chairman of the CBIC Sanjay Kumar Agarawal said that the Board of Directors would monitor prices to ensure that the benefit from price reductions to consumers be transferred. Many companies have already announced price cuts while others are working on strategies to restore their affairs regarding the inverted duty structure.

Abhishek Jain, the head of the indirect tax and its partner, noted that CBIC is compatible with the broader narration of the government, which has constantly emphasized the need for industry to ensure that the benefit of the commodity and services tax rate discounts to consumers be transferred. He said: “With the expectations of accurate monitoring by the authorities, companies will be considered good to reconsider in a way that pricing them and implementing strong mechanisms, to ensure that the benefits of price reviews will be passed appropriately and transparently.”