Wednesday , October 18 2017

Firms given Sept 30 deadline to clear unsold pre-GST goods: Centre

In case of price hike post-GST, it is must to advertise the same at least twice.

GST

New Delhi: Firms have time till September 30 to clear unsold pre-GST products as the government on Tuesday permitted a revised MRP to be displayed along with printed sale price to reflect the changes post the new tax system kicking-in.

Also, food and consumer affairs minister Ram Vilas Paswan cautioned of legal action against manufacturers for not printing the revised MRP post-GST.

The old Price will have to be essentially displayed on the unsold goods and the new rates can be displayed by way of stickers or through online printing beside, consumer affairs secretary Avinash Srivastava said to the reporters here.

On goods where the price has to be increased for unsold products, the manufacturer or importer or packer will have to give at least 2 advertisements in 2 or more newspapers informing people about the change.

“The Central government hereby permits the manufacturer or packer or importer of pre-packaged commodities to declare the changed retail sale price (MRP) for 3 months from July 1-September 30. Announcement of the changed MRP shall be made by way of stamping or putting sticker or online printing,” a government notification stated.

The difference between the retail sale price initially printed on the package and the revised price “shall not, in any case, be higher than the extent of increase in tax” or in the case of imposition of fresh tax on account of the implementation of the GST, it stated.

“The original price shall continue to be displayed and the revised price shall not overwrite on it,” the notification stated.

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