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Govt Allows to Change in MRP on Unsold Stock Post GST

By Religare

Following the implementation of GST from July 01, 2017, various instances were reported where the retail sale price of a pre-packaged commodity is required to be changed.

Govt Allows to Change in MRP on Unsold Stock Post GST

In this context, Ram Vilas Paswan, Union Minister for Consumer Affairs, Food & Public Distribution has allowed the manufacturers or packers or importers of pre-packaged commodities to declare the change retail sale price (MRP) on the unsold stock manufactured, packed or 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 (MRP), for three months w.e.f. 1st July 2017 to 30th September, 2017.

Declaration of the changed retail sale price (MRP) shall be made by way of stamping or putting sticker or online printing, as the case may be, he said.

He also clarified that 'for reducing the Maximum Retail Price (MRP), a sticker with the revised lower MRP (inclusive of all taxes) may be affixed and the same shall not cover the MRP declaration made by the manufacturer or the packer, as the case may be, on the label of the package'.

Use of unexhausted packaging material has also been allowed upto 30th September, 2017 after making the necessary corrections, he added.

Read more about: gst mrp stock
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