ICICI Securities Ltd | Retail Equity Research With the rollout of GST and tax clarity on the toothpaste category, Colgate-Palmolive (CPIL) has emerged as one of the major beneficiaries of GST among companies under our coverage. Under the new tax regime, the average indirect tax rate for toothpaste has come down to 18% from ~23-24%. Following the anti-profiteering clause, we were expecting price cuts to the tune of ~6-7% for the category. However, CPIL has intimated distributors about the cut across price points in the tune of 7-11% in both...