Post Tax Rate Cut FMCG Firms Set to Reduce Prices Prices of shampoos, chocolates, nutrition drinks and condensed milk are set to drop 5-15% after the GST Council eased them out of higher tax slabs. Companies such as Hindustan Unilever, Dabur, Amul, GlaxoSmithKline, Procter & Gamble, Nestle and Perfetti Van Melle said they have either decided to reduce prices or are planning to do so after the GST Council cut tax on several consumer goods to 18% from 28%. They, in fact, are also bound by the anti-profiteering clause under the GST law to pass on any benefit from lower tax incidence to consumers. “We will drop prices at least by 5% on our shampoo range,” Dabur chief executive Sunil Duggal said. The country’s largest dairy firm, Amul, said it would slash prices of condensed milk and chocolates by 5-10% with immediate effect, while GlaxoSmithKline Consumer said it would cut the price of popular chocolate drink Horlicks in line with the new rate. Hindustan Unilever said it was ca