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MRP (Max Retail Price) Rules Under GST

We all know what MRP is. MRP (Maximum Retail Price) is the maximum amount of money that can be charged by a seller from a buyer. After the implementation of GST, prices of many products changed. Does this have an effect on the MRP rules also ?

The answer is Yes.

After the implementation of GST, the government revised MRP rules for the businesses and Consumer Ministry has directed the businesses to paste the new stickers with fresh pricing.

MRP Rules After Implementation of GST

If the price of the product has increased after GST imposition, the manufacturer needs to release an advertisement in at least two newspapers regarding the updated price.
Only the stocked products with the manufacturer are required to put on the advertisement. The new products coming after 1st July are not covered under the advertisement rule.
The advertisement rule is applicable for three months(1st July to 30th September) only
If the price of the product has decreased after GST implementation, the manufacturer doesn’t need to advertise regarding the reduced price
In both the cases, if price of product has increased or decreased, manufacturer is required to put the new sticker along with old sticker for the stocked products till 30th September
and for new products, the manufacturer will put only the revised price

Let us understand this with an example.

Suppose a packet of pencil was priced at Rs 25 before GST. After GST the price rose to Rs 30.

In this case, the manufacturer needs to release an advertisement in at least 2 newspapers regarding the price rise.

However, if the price of packet declined to Rs 20 post GST, then the manufacturer doesn’t need to release any advertisement.

If the product was ready for sale before 1^st July, only then the need for advertisement arises. In case the product became ready for sale after 1^st July, then no advertisement needs to be released.

If the product was ready for sale before 1^st July, then the manufacturer needs to print fresh sticker of MRP along with the old sticker. However, if the product became ready for sale after 1^st July then only the fresh sticker needs to be printed.

UPDATE: In a series of new clarifications, the government has said that Packaged consumer goods displaying the old maximum retail price (MRP) will be confiscated from October 1.

A 3 month deadline, till 30th September was extended to all manufacturers to print new MRP along with old MRP on products whose prices were changed due to GST.

This was done to ensure that companies and retailers have a way of dealing with older (so-called pre-GST) stock, and preventing profiteering in the name of new MRP.

But now, from 1st October onwards, only the new MRP, as applicable after the GST shall be printed on the product.

If any product is found with 2 MRP's or an MRP which is non in line with GST rules, it can be confiscated.

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The answer is Yes. After the implementation of GST, the government revised MRP rules for the businesses and Consumer Ministry has directed the businesses to paste the new stickers with fresh pricing. <h2>MRP Rules After Implementation of GST</h2><ul><li>If the price of the product has increased after GST imposition, the manufacturer needs to release an advertisement in at least two newspapers regarding the updated price.</li><li>Only the stocked products with the manufacturer are required to put on the advertisement. The new products coming after 1st July are not covered under the advertisement rule. </li><li>The advertisement rule is applicable for three months(1st July to 30th September) only</li><li>If the price of the product has decreased after GST implementation, the manufacturer doesn’t need to advertise regarding the reduced price</li><li>In both the cases, if price of product has increased or decreased, manufacturer is required to put the new sticker along with old sticker for the stocked products till 30th September </li><li>and for new products, the manufacturer will put only the revised price</li></ul> Let us understand this with an example.Suppose a packet of pencil was priced at Rs 25 before GST. After GST the price rose to Rs 30. In this case, the manufacturer needs to release an advertisement in at least 2 newspapers regarding the price rise.However, if the price of packet declined to Rs 20 post GST, then the manufacturer doesn’t need to release any advertisement. If the product was ready for sale before 1st July, only then the need for advertisement arises. In case the product became ready for sale after 1st July, then no advertisement needs to be released. If the product was ready for sale before 1st July, then the manufacturer needs to print fresh sticker of MRP along with the old sticker. However, if the product became ready for sale after 1st July then only the fresh sticker needs to be printed.&nbsp;UPDATE: In a series of new clarifications, the government has said that Packaged consumer goods&nbsp;displaying the old maximum retail price (MRP) will be confiscated from October 1.A 3 month deadline, till 30th September was extended to all manufacturers to print new MRP along with old MRP on products whose prices were changed due to GST. This was done to ensure that companies and retailers have a way of dealing with older (so-called pre-GST) stock, and preventing profiteering in the name of new MRP.But now, from 1st October onwards, only the new MRP, as applicable after the GST shall be printed on the product. If any product is found with 2 MRP's or an MRP which is non in line with GST rules, it can be confiscated.

The answer is Yes. After the implementation of GST, the government revised MRP rules for the businesses and Consumer Ministry has directed the businesses to paste the new stickers with fresh pricing. <h2>MRP Rules After Implementation of GST</h2><ul><li>If the price of the product has increased after GST imposition, the manufacturer needs to release an advertisement in at least two newspapers regarding the updated price.</li><li>Only the stocked products with the manufacturer are required to put on the advertisement. The new products coming after 1st July are not covered under the advertisement rule. </li><li>The advertisement rule is applicable for three months(1st July to 30th September) only</li><li>If the price of the product has decreased after GST implementation, the manufacturer doesn’t need to advertise regarding the reduced price</li><li>In both the cases, if price of product has increased or decreased, manufacturer is required to put the new sticker along with old sticker for the stocked products till 30th September </li><li>and for new products, the manufacturer will put only the revised price</li></ul> Let us understand this with an example.Suppose a packet of pencil was priced at Rs 25 before GST. After GST the price rose to Rs 30. In this case, the manufacturer needs to release an advertisement in at least 2 newspapers regarding the price rise.However, if the price of packet declined to Rs 20 post GST, then the manufacturer doesn’t need to release any advertisement. If the product was ready for sale before 1st July, only then the need for advertisement arises. In case the product became ready for sale after 1st July, then no advertisement needs to be released. If the product was ready for sale before 1st July, then the manufacturer needs to print fresh sticker of MRP along with the old sticker. However, if the product became ready for sale after 1st July then only the fresh sticker needs to be printed. UPDATE: In a series of new clarifications, the government has said that Packaged consumer goods displaying the old maximum retail price (MRP) will be confiscated from October 1.A 3 month deadline, till 30th September was extended to all manufacturers to print new MRP along with old MRP on products whose prices were changed due to GST. This was done to ensure that companies and retailers have a way of dealing with older (so-called pre-GST) stock, and preventing profiteering in the name of new MRP.But now, from 1st October onwards, only the new MRP, as applicable after the GST shall be printed on the product. If any product is found with 2 MRP's or an MRP which is non in line with GST rules, it can be confiscated.

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MRP (Max Retail Price) Rules Under GST

MRP (Max Retail Price) Rules Under GST