Traders can now sell their unsold pre-GST stock with their revised MRP post the implementation of GST along with their old MRPs till December 31 this year, the department of consumer affairs has said.
“On packaged commodities industry can display revised MRP due to GST implementation using sticker/stamping/online printing up to 31st Dec 2017,” Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan said in a tweet late Friday.
Officials aware of the developments said that the department had been approached by several retailers, asking for an extension on the timeline for displaying revised MRP on packaged products, the last date for which was September 30.
Details of the changed MRP was allowed to be displayed by way of stamping or putting sticker or online printing.
“Considering the requests received from manufacturers, traders and industries, the central government hereby permits the manufacturers or packers or importers of prepackaged commodities to declare the changed retail sale price (MRP) on the unsold stock manufactured/packed/imported prior to 1st July, 2017 after inclusion of the increased amount of tax due to GST if any, in addition to the existing retail sale price, up to 31st December, 2017,” said a letter issued by the department of consumer affairs to state legal metrology departments, accessed by ET.
The move comes as a relief for traders and manufacturers who were stuck with MRP-labelled, pre-GST stock.
A senior official from the department of consumer affairs said that there was still some confusion among consumers regarding revision of prices after the new tax regime was implemented from July 1 this year, following which, the department has taken the decision.
The letter also mentioned that any packaging material or wrapper which could not be exhausted by manufacturer or packer or importer, may be used for packaging of material up to 31st December, 2017, or till such date the packing material is exhausted, whichever is earlier after making corrections required in MRP on account of implemetation of GST, by way of stamping or putting sticker or online printing.
Source : The Economic Times