Deadline to sell pre-GST stock bearing revised MRP extended to December 31
A retailers’ body had claimed that goods worth Rs 6 lakh crore would be wasted if the last date was not extended beyond September 30.
The deadline to sell stock manufactured before the Goods and Services Tax was rolled out on July 1 has been extended from September 30 to December 31. Pre-GST goods can be sold with the revised rates clearly displayed by “stamping or putting a sticker or online printing”, the Ministry of Consumer Affairs, Food and Public Distribution said on Friday.
A retailers’ body, the Confederation of All India Traders, and several companies had said that they were still left with unsold stock of pre-GST goods. The traders’ body had claimed that goods worth around Rs 6 lakh crore may be wasted if the last date was not extended beyond September 30, PTI reported.
On packaged commodities Industry can display revised MRP due to GST implementation using sticker/ stamping/online printing up to 31 Dec 2017
— Ram Vilas Paswan (@irvpaswan) September 29, 2017
In July, the government had allowed the use of stickers with revised rates for items priced under the old tax system. With the implementation of the GST, the prices of some products changed because of the increase or decrease in tax incidence. The Centre had then made it mandatory for all packaged items to mention the Maximum Retail Price as well as the revised rates to make the difference clear to consumers.