Gemini Edibles and Fats India Pvt Ltd announced a reduction in MRP for their flagship brand Freedom Refined Sunflower Oil & the newly introduced Freedom Physically Refined Rice Bran oil in a proactive move to pass on the benefits of GST and the input cost credit to the customers.
The MRP for 1 Litre Pouch and 5 Litre HDPE Jar of Freedom Refined sunflower oil has been reduced by approx 4% to Rs. 105 from Rs. 109 for 1 Litre Pouch and Rs. 535 from Rs. 555 for the 5 Litre Jar. The price for Freedom Physically refined Rice bran oil has also been reduced from Rs. 105 to Rs. 101.
Speaking on the occasion Mr. P. Chandra Shekhara Reddy, Vice President – Sales & Marketing, GEF India *said “With the introduction of GST, there is no change in the tax rates for edible oil in AP & Telangana, however there is a small reduction in taxes from 6% and 5.5% to 5% in Odhisa and Karnataka respectively. Also with the introduction of GST we will also enjoy the benefit of borderless trade .Moreover we will also be eligible for increased Input tax credit as GST gives flexibility of getting input credit on services and also from interstate purchases which is likely to reduce the prices by approx 1%.
Keeping in view of all this reasons we are pleased to reduce the MRP for our brands Freedom Refined Sunflower Oil and Freedom Physically refined Rice Bran Oil. We would like to thank our customers for the love and affection shown towards the brand Freedom and would like them to continue the patronage by living a healthy and happy life enjoying the Freedom to eat and Freedom to enjoy.“
Sunil Kumar M
Integrated Marketing Communication Consultancy