Unsold products lying with retailers will be sold at the post-GST prices, despite old prices printed on the goods.
There was a lot of ambiguity about the transitioning process from the VAT to the new GST regime. However, with this new guideline, retailers were induced to introduced deep discount sales for the purpose of encashing the surplus inventory. The rules were tweeted out by Union Minister for Consumer Affairs, Food and Public Distribution.
The rules were tweeted out by Union Minister for Consumer Affairs, Food and Public Distribution. Here is the series of tweets posted by the Minister in this connection.
Pre-packaged items which have packed before the GST rollout are required to have stickers with mentioned rates, against the MRP printed on the sticker. Unsold pre-packaged items, which have been manufactured before the rollout of GST, will now have stickers mentioning the revised rates, alongside the printed maximum retail price (MRP). The consumer affairs ministry, which issued the circular, said this will be in effect.
Note that MRP shall be written on each and every article/good, regardless of whether it is produced before or after GST, according to a circular issued by the consumer affairs ministry.
After GST came into effect, the prices of some items have gone up while the prices of others have come down.
— Ram Vilas Paswan (@irvpaswan) July 4, 2017
The benefits of decreased prices,by reduction of tax after imposition of GS, should reach the consumers.
— Ram Vilas Paswan (@irvpaswan) July 4, 2017
We have granted relaxation till 30.9.17 to industry under Packaged Commodities Rules to write new MRP on items of reduced prices due to GST
— Ram Vilas Paswan (@irvpaswan) July 4, 2017
We have granted relaxation till 30.9.17 to industry under Packaged Commodities Rules to write new MRP on items of reduced prices due to GST
— Ram Vilas Paswan (@irvpaswan) July 4, 2017
The provision for applying sticker shall be available for only a period of 3 months, i.e. until September 30. The circular issued by the state government said: “Declaration of the changed MRP shall be made by way of stamping or putting a sticker or through online printing”.
In case prices of goods increase, the retailers are required to advertise new prices in two newspapers. Besides, they will be required to circulate notices to the dealers apart from sending a copy to the state and central government departments concerned.
