New Delhi: Companies have time till September 30 to clear unsold pre-GST goods as the government on Tuesday allowed a revised MRP to be displayed along with printed sale price to reflect the changes post the new tax regime kicking-in.
Also, food and consumer affairs minister Ram Vilas Paswan warned of legal action against manufacturers for not printing the revised MRP post-GST.
The old MRP will have to be necessarily displayed on the unsold inventories and the new rates can be reflected by way of stickers or through online printing alongside, consumer affairs secretary Avinash Srivastava told reporters here.
On items where the price has to be increased for unsold stocks, the manufacturer or packer or importer will have to give at least two advertisements in two 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 three months from July 1-September 30. Declaration of the changed MRP shall be made by way of stamping or putting sticker or online printing,” a government notification said.
The difference between the retail sale price originally 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 said.
“The original MRP shall continue to be displayed and the revised price shall not overwrite on it,” the notification said.