Mumbai: Breakfast cereal maker Kellogg's Indian arm said on Thursday that it will reduce prices by up to 5 percent from next month on certain products in order to pass on to consumers the benefit of reduced taxes consequent to the implementation of the Goods and Services Tax (GST) from 1 July.
"The price reduction will impact select SKUs (stock keeping units) of the company which includes Kellogg's Corn Flakes and its variants, Kellogg's Special K and Kellogg Muesli," a company statement said here.
"For example, starting August, 250 grams SKU of Kellogg's Corn Flakes will be priced at Rs 92 as compared to the earlier price of Rs 97, 140 grams SKU of Kellogg's Special K will be priced at Rs 60 as against Rs 64 and 250 grams SKU of Kellogg's Muesli Nuts Delight will be priced at Rs 145 as against Rs 150," it added.
"In line with our consumer centric approach, we have decided to pass on the anticipated
GST benefit to the consumers," Kellogg India Managing Director Sangeeta Pendurkar said in the statement.
Source: firstpost.com