You are here: Home » Economy & Policy » News » GST
Business Standard

GST regime: New MRP rules released, defaulting manufacturers to be fined

Govt has given 3 months time to reprint revised MRPs under the Packaged Commodities: Paswan tweeted

Gst Impact

Press Trust of India  |  New Delhi 

Goods and Services Tax
The revised rates should be displayed on commodities so that consumers are aware what is the MRP of each item after GST: Centre

The government on Tuesday warned that legal action will be initiated against manufacturers for not printing the revised MRP post rollout of the GST.

Food and Consumer Affairs Minister Ram Vilas Paswan said the government has given three months time till September to reprint the revised maximum retail price (MRP) with the implementation of the landmark Goods and Services Tax (GST).

In a series of tweets, Paswan said that prices of some commodities have fallen, while some have increased with the implementation of GST.

"Fall in prices due to lower GST should be passed on to consumers. ...The government will take legal action against vendors not declaring revised MRP after GST," he said.

The revised rates should be displayed on commodities so that consumers are aware what is the MRP of each item after GST, he added.

"The government has given time till September to reprint the revised MRP under the Packaged Commodities Rule," he said.

GST, launched at midnight of June 30, has subsumed all value added tax (VAT) and Octroi. It has four slabs -- 5, 12, 18 and 28 per cent -- for different commodities.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, July 05 2017. 01:55 IST