Consumer Affairs Ministry Extends Deadline For Change In MRP Labels On Packaged Goods Till 31 December
According to notification, the manufacturers, packers or importers of pre-packaged commodities are allowed to declare the changed retail sales prices on the unsold stock of products manufactured, packed or imported before the Goods and Services Tax (GST) implementation date of July 1, 2017
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On 4th of July, the Indian government’s Department of Consumer Affairs published a notification relating to a change in the maximum retail price (MRP) and its display on the labels of packaged commodities. According to this notification, the manufacturers, packers or importers of pre-packaged commodities are allowed to declare the changed retail sales prices on the unsold stock of products manufactured, packed or imported before the Goods and Services Tax (GST) implementation date of July 1, 2017.
This includes the increased amount of tax due to GST if any, in addition to the existing retail sales price, for three months starting July 1, 2017, until September 30, 2017. The declaration of the changed MRP as per the July 4th notification was allowed through stamping or pasting a sticker or online printing, as the case may be.
But it seems that the festival season has brought some sigh of relief for everyone in the trade circle. The Government Of India’s Department of Consumer Affairs ‘notified the extension of the timeline for manufacturers, packers or importers of pre-packaged commodities to declare the changed retail sales prices on the unsold stock of product manufactured, packed or imported before the GST implementation date of 1st July 2017’.
This includes the increased amount of tax due to GST if any, in addition to the existing retail sales price. The new timeline to comply with this requirement is 31st December 2017. As far as the positive aspect of the notification is concerned, it also clarifies that in case the MRP is lowered, the revised lower MRP should be affixed in a way that it does not cover the MRP declaration made by the manufacturer or packer or importer, as the case may be, on the label of the package’. All other information remains as provided in the notification issues earlier on the 4th July this year. However, retailers association of India did not comment on this notification as of now.