Union Minister Nirmala Sitharaman today allayed fears over whether the prices of essential commodities would rise post implementation of Goods and Services Tax, saying no fresh rates would be imposed on those goods which already come under tax ambit. "There is no separate explanation to public and another for traders. It is all the same. The price of essential commodities will not rise (post GST)", the Commerce and Industries Minister said here. Sitharaman was speaking to reporters at the sidelines of a conference organised on Goods and Service Tax for traders. Explaining about the tax structure under GST, she said "I am answering those who raise queries whether there will be an increase in price of essential commodities post GST". "Rate fixed in GST is Revenue Neutral Rate, which means suppose if there is a tax for a particular product, it comes under GST. If a new tax rate is fixed, it is comparatively less to the existing structure. So, the price of essent...
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