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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

GST, Revised MRP rates, Goods and Services Tax, GST Impact, GST rollout, Paswan, Commodities, produts, GST rates
<b>Cash Strain</b> Several shops offer discounts on cash purchases which, though small, are valued more by the middle classes than by the rich and result in greater propensity for cash transactions
Press Trust of India New Delhi
Last Updated : Jul 05 2017 | 1:55 AM IST
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.

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"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: Jul 05 2017 | 1:55 AM IST

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