GST: Minister Vows Action Against Firms for Not Reducing Prices

Thiruvananthapuram: Stringent action will be taken against the companies that have not reduced prices after the implementation of the GST, said Finance Minister Dr. Thomas Isaac today.

Speaking to reporters here, the Minister also blamed the officials for not intervening in this issue effectively.

Meanwhile, Dr. Isaac agreed to the fact that the prices have gone up in the State after the implementation of the GST.

He assured that a Monitoring Committee will be set up this week to address the different complaints from the people.

“The officials didn’t intervene in the right way to control the prices after the GST. The companies were also not ready to compare the prices of products before and after the GST, and reduce the prices. This is a serious offence,” he remarked.

He added that it has been brought to his notice that the hotels with income less than Rs. 75 lakh are charging 18 per cent GST.

The Minister said that strict action will be taken against this. He also said that action will be taken against those hotels, which charge tax over the MRP of bottled water.

Dr. Isaac added that there is not much clarity on the GST, and that it is not possible to pass a judgement with just the income of the first month.