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Published On: Fri, Sep 29th, 2017

Deadline for selling pre-GST goods extended to December 31

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Mumbai: Union Minister for Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan addresses a press conference in Mumbai on Monday to brief about initiatives of his Ministry during the last one year. PTI Photo by Santosh Hirlekar (PTI5_25_2015_000131A)

Mumbai: Union Minister for Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan addresses a press conference in Mumbai on Monday to brief about initiatives of his Ministry during the last one year. PTI Photo by Santosh Hirlekar (PTI5_25_2015_000131A)

NEW DELHI : The government has extended the deadline for sale of pre-GST goods with stickers of revised rates by three months to December 31, Consumer Affairs Minister Ram Vilas Paswan said today The decision came after several companies and retailers body CAIT highlighted that they are still left with huge unsold stocks of pre-GST goods and need more time to clear that.

After implementing GST from July 1, the government had allowed use of stickers with revised rates, alongside the printed MRP for pre-packaged items to reflect changes in selling price for three months till September 30. The unsold items had an MRP which included all taxes of pre-GST era but with the implementation of new regime, some of the final retail prices have undergone change due to increase or decrease in tax incidence.
Since food items have expiry date for consumption, there were not many representations from such companies, the official added. Traders body CAIT today claimed that goods worth Rs 6 lakh crore may become redundant if the last date for using MRP-labelled old stock is not extended beyond September 30.
“The government hereby further permits the manufacturers or packers or importers of pre-packaged commodities to declare the changed retail price (MRP) on the unsold stock market. After implementing GST from July 1, the government had allowed use of stickers with revised rates alongside MRP, for pre-packaged items to reflect changes in selling price till September 30.

Consumer Affairs Minister Ram Vilas Paswan said on September 29. The decision came after retailers body CAIT and several companies highlighted that they are still left with huge unsold stocks of pre-GST goods and need more time to clear that. Afte. The unsold items had an MRP which included all taxes of pre-GST era but with the implementation of new regime, some of the final retail prices have undergone change due to increase or decrease in tax incidence.

“On packaged commodities, industry can display revised MRP due to GST implementation using sticker/ stamping/online printing up to December 31, 2017”, Consumer Affairs, Food and Public Distribution Minister Ram Vilas Paswan tweeted. A senior Consumer Affairs Ministry official said the deadline has been extended following demand from several companies like Wipro, HPL and other non-food companies. Since food items have expiry date for consumption, there were not many representations from such companies, the official added.
“The government hereby further permits the manufacturers or packers or importers of pre-packaged commodities to declare the changed retail price (MRP) on the unsold stock manufactured/packed/imported prior to July 1, 2017 after inclusion of the increased amount of tax due to GST, if any, in addition to the existing retail price (MRP), up to December 31, 2017,” said a government communication.

 

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