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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

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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.)

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