GST Now Being Mulled To Be Part Of MRP

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    After a surge in complaints from consumers that some of the retailers are charging GST over and above the maximum retail price, the group of state ministers have sought to bring GST within the scope of MRP for a product i.e specify the GST rate on it.
    In view of this, GST Council headed by Finance Minister Arun Jaitley in its next meet on November 10 is likely to take up the issue and order restaurateur, malls and other outlets to mandatorily mention GST in the MRP.

    GST Now Being Mulled To Be Part Of MRP

    The group of state finance ministers met recently to address the issue and suggests that government need to make it clear that MRP is the maximum retail price and if a retailer resorts to charging any price over this amount than this is an offense.

    On filing their tax returns, businesses can indicate the selling price and the GST component separately. Time and again, the government has been tweaking GST norms given the feedback of small business entities and consumers. To provide ease to business, it has extended GSTR filing dates.

    Read more about: gst mrp gst council arun jaitley gstn
    Story first published: Tuesday, October 31, 2017, 13:37 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more