 "GST: Govt allows companies to paste MRP stickers till March, 2018")
The government has allowed companies, till March 2018, to paste price stickers on unsold packaged products to reflect new MRP post GST, Consumer Affairs Minister Ram Vilas Paswan said today.
After Goods and Services Tax (GST) became effective from July 1, companies were asked to use stickers on unsold packaged commodities to display new maximum retail price (MRP) till September, which was later extended till December.
When rates of about 200 items were cut in mid-November, the ministry permitted to paste additional stickers under the the Legal Metrology (Packaged Commodities) Rules, 2011.
"In case of GST, we allowed companies to paste stickers on unsold packaged products till December. In last GST council meeting, GST rates have been reduced for about 200 items. So, we have decided to extend the December deadline to March 2018," Paswan told reporters here.
Last month, the ministry had allowed to "affix an additional sticker or stamping or online printing for declaring the reduced MRP on the pre-packaged commodity".
As many as 178 items of daily use have been shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, both air- conditioned and non-AC.
To ensure GST cuts are passed on to consumers, Paswan had recently directed state legal metrology officers to check if companies are pasting the new MRP stickers.
After Goods and Services Tax (GST) became effective from July 1, companies were asked to use stickers on unsold packaged commodities to display new maximum retail price (MRP) till September, which was later extended till December.
When rates of about 200 items were cut in mid-November, the ministry permitted to paste additional stickers under the the Legal Metrology (Packaged Commodities) Rules, 2011.
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Last month, the ministry had allowed to "affix an additional sticker or stamping or online printing for declaring the reduced MRP on the pre-packaged commodity".
As many as 178 items of daily use have been shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, both air- conditioned and non-AC.
To ensure GST cuts are passed on to consumers, Paswan had recently directed state legal metrology officers to check if companies are pasting the new MRP stickers.
(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.)