Govt. allows change in MRP on Unsold Stock of 30 June 2017 for clearance till 30 Sept.

Govt. allows change in MRP on Unsold Stock as on 30 June 2017 for clearance till 30 Sept. 2017

Govt. allows change in MRP (through stamping, stickers or online printing) on unsold stock as on 30 June 2017, i.e. prior to GST implementation w.e.f. 1 July 2017, for clearance till 30 Sept. 2017.

On account of implementation of GST w.e.f. 1st July, 2017, there may be instances where the retail sale price of a pre-packaged commodity is required to be changed.  In this context, Govt. has allowed the manufacturers or packers or importers of pre-packaged commodities to declare the change in retail sale price (MRP) on the unsold stock manufactured/ packed/ imported prior to 1st July, 2017 after inclusion of the increased amount of tax, due to GST, if any, in addition to the existing retail sale price (MRP), for three months. w.e.f. 1 July 2017 to 30 Sept. 2017.  Declaration of the changed retail sale price (MRP) shall be made by way of stamping or putting sticker or online printing, as the case may be.

It is also clarified that ‘for reducing the Maximum Retail Price (MRP), a sticker with the revised lower MRP (inclusive of all taxes) may be affixed and the same shall not cover the MRP declaration made by the manufacturer or the packer, as the case may be, on the label of the package’.

Use of unexhausted packaging material/wrapper has also been allowed upto 30th September, 2017 after making the necessary corrections. Consumer protection has always been a major thrust area of Government. The Legal Metrology (Packaged Commodities) Rules, 2011 have been framed to regulate the pre-packaged commodities. Rule 6 of the said rules provides that every package shall bear thereon the following declarations:

i) Name and address of the manufacturer/ packer/ importer;

(ii) Common or generic name of the commodity contained in the package;

(iii) Net quantity, in terms of standard unit of weight or measure or in number;

(iv) Month and year of manufacture/ pack/ import;

(v) Retail sale price in the form of Maximum Retail Price (MRP) Rs….. Inclusive of all taxes;

(vi) Consumer care details.

GoI permits MRP Change for Unsold Stock as on 30 June 2017

Leave a Reply

FREE NEWSLETTER

Please Signup for 

CA Club's Daily Updates via Email

(After this process please check your emails; open an email from Feedburner and click on the confirmation link)