MRP

The finance ministry has asked Central GST field officers to submit monthly report of price change in 54 commonly use items, like butter, thermometer and toys, after the new lower GST rates are implemented from September 22. In a letter to Principal Chief Commissioners of CGST zones, the ministry said the first report on the comparative details of Maximum Retail Price (MRP) of these commodities brand-wise will have to be submitted to the Central Board of Indirect Taxes and Customs (CBIC) by September 30. The monthly report on pre- and post-September 22 MRP will have to be submitted to the CBIC by the 20th of every month for the next six months, said the letter dated September 9. The list of 54 items include cement, shampoo, toothpaste, tomato ketchup, jams, ice cream, AC, TV, all diagnostic kits, glucometer, bandages, erasers, and crayons, among others. The GST Council in its meeting on September 3 had decided to reduce tax rates on 375 items. It also decided to make GST a two-tier

The Delhi High Court questioned restaurants over service charges, asking why customers pay extra when prices are already above MRP; the court called it unfair and coercive

With this, manufacturers will be allowed to increase the maximum retail price (MRP) of scheduled formulations on the basis of WPI without needing any prior approval from the government in this regard

Printing the 'date of manufacturing' and 'unit sale price' has become mandatory on all packaged commodities effective from Monday, according to Consumer Affairs Secretary Rohit Kumar Singh. Earlier, companies were given the option to either print the 'date of manufacturing' or 'date of import' or date of packaging on the packaged commodities. Now, companies have been mandated to print only the 'date of manufacturing', along with the 'unit sale price', as per the latest notification issued by the Consumer Affairs Ministry. "Since packaged items are sold in different quantities, it is important that consumers are aware about the 'unit sale price' of what is packed and make an informed purchase decision," the consumer affairs secretary told PTI. Printing the date of manufacturing will help consumers know how old the packaged item is and help them make conscious purchase decisions. Similarly, the printing of unit sale price will make it easy for consumers to ascertain the cost in unit

Findings of the LocalCircles study escalated to Dept of Legal Metrology for further review and corrective action

Drugs for ailments like chronic kidney disease, some high end antibiotics, anti-virals (anti-infectives), as well as some cancer drugs are likely to be brought under trade margin rationalization first

Rajasthan has become the second state in the country after Maharashtra to prohibit all stadiums, restaurants, airports and cinema halls from charging any price more than the printed Minimum Support Price (MRP) for packaged food items such as drinking water bottles, wafer and biscuit packets and also levying dual MRP for the same item.In an order issued earlier this month, the state government has directed all district commissioners and local authorities to conduct raids and take all possible action as per the law to stop the practice of dual or extra MRP for packaged food items charged in many cinema halls and multiplexes.The move comes after the Centre in a letter issued in December 2016 had directed all state governments and union territories to stop the practice of dual MRP for the same commodity within the same city, district or state. The directive was issued after it got several complaints from consumer rights activities and others that many cinema halls, stadiums, multiplexes ..