Post-GST retail price hike needs to be advertised: revenue secretary
04 Jul 2017
The government on Tuesday said any price hike in retail goods after the introduction of GST needs to be advertised at least in two newspapers before a new price sticker can be affixed.
A PTI report quoting revenue secretary Hasmukh Adhia said a central monitoring committee comprising 15 top secretaries will meet every Tuesday to monitor GST, even as the GST Network saw about 2 lakh new registrations, with 39,000 already approved.
He said that not a single incident of hindrance in the implementation of GST has been reported since its rollout.
However, consumer affairs minister Ram Vilas Paswan has said any change in MRP on unsold stock prior to implementation of GST can be done before 30 September 2017 by changing the price sticker.
Paswan said the change in MRP can be done by stamping, putting sticker or through online printing.
''There may be instances where the retail sale price of a pre-packaged commodity is required to be changed due to the introduction of GST. In this context, Paswan said manufacturers or packers or importers of pre-packaged commodities may declare the change retail sale price (MRP) on the unsold stock manufactured/ packed/ imported prior to 1 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, ie from 1 July 2017 to 30 September 2017,'' the minister said .
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.
The minister 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 up to 30 September 2017, after making the necessary corrections.