21st June, 2018
GST

After revised GST, companies may paste new MRP till Dec

If next time you see a paper pasted over price of the item you purchase, try not to frown. 

 With frequent revision in GST rates, the government has allowed companies to get the new price stickers pasted on packaged products to reflect new MRP. The pasting can be done till December.

After the GST was rolled out from July 1, the companies were asked to paste new price sticker on packaged commodities, which had old rates. The pasted price could be carried (new maximum retail price) till September, which was later extended till December.

The Legal Metrology (Packaged Commodities) Rules, 2011, has permitted to paste the additional price stickers.

Union Consumer Affairs Minister Ram Vilas Paswan said since GST rates have been reduced on some commodities, therefore the ministry has allowed to “affix an additional sticker or stamping or online printing for declaring the reduced MRP on the pre-packaged commodity.”

The provision of declaring the new reduced prices will be allowed till December this year.

As many as 178 items of daily use have been shifted from the top tax bracket of 28 per cent to 18 per cent. And a uniform 5 per cent tax is prescribed for all restaurants, both air- conditioned and non-AC.

To ensure that the benefit of GST cuts is passed on to consumers, Paswan recently directed state legal metrology officers to check if companies are pasting the new MRP stickers.