Your favorite products to get new MRP’s
Your favorite products to get new MRP’s
Owing to the reduction in the GST rates of several commodities, government has allowed companies to paste stickers of new MRP on the packaged goods. However, there is a deadline …
When GST was introduced in July, certain commodities and products experienced price fluctuations due to changed tax structure.
To reflect the correct price payable, which was in compliance with GST, companies were asked to paste new price stickers on packaged commodities to reflect the new maximum retail price (MRP) until September.
This deadline was extended till December.
Now, when GST rates have been reduced on about 200 products, in order to reflect the reduced price, companies have been asked to affix an additional sticker for declaring the reduced MRP on the product.
However, this additional sticker will have to be pasted along with the older MRP.
Also, this relaxation is will also be applicable in the case of unsold stocks manufactured/ packed/imported after July 1, 2017, where the MRP would reduce due to the reduction in the rate of GST.
So, post GST roll out, new stickers had to be pasted to reflect new MRP owing to GST introduction. And now, further new stickers have to be pasted to reflect reduction in GST rates.
