GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

GST: Govt Allows Companies to Paste MRP Stickers Till March

To ensure GST cuts are passed on to consumers, Consumer Affairs Minister Ram Vilas Paswan had recently directed state legal metrology officers to check if companies are pasting the new MRP stickers.

PTI

Updated:December 23, 2017, 10:53 PM IST
facebookTwittergoogleskypewhatsapp
GST: Govt Allows Companies to Paste MRP Stickers Till March
Image for representation only.
Loading...
New Delhi: The government has allowed companies, till March 2018, to paste price stickers on unsold packaged products to reflect new MRP post GST, Consumer Affairs Minister Ram Vilas Paswan said on Saturday.

After Goods and Services Tax (GST) became effective from July 1, companies were asked to use stickers on unsold packaged commodities to display new maximum retail price (MRP) till September, which was later extended till December.

When rates of about 200 items were cut in mid-November, the ministry permitted to paste additional stickers under the the Legal Metrology (Packaged Commodities) Rules, 2011.

"In case of GST, we allowed companies to paste stickers on unsold packaged products till December. In last GST council meeting, GST rates have been reduced for about 200 items. So, we have decided to extend the December deadline to March 2018," Paswan told reporters in New Delhi.

Last month, the ministry had allowed to "affix an additional sticker or stamping or online printing for declaring the reduced MRP on the pre-packaged commodity".

As many as 178 items of daily use have been shifted from the top tax bracket of 28 percent to 18 percent, while a uniform 5 percent tax was prescribed for all restaurants, both air-conditioned and non-AC.

To ensure GST cuts are passed on to consumers, Paswan had recently directed state legal metrology officers to check if companies are pasting the new MRP stickers.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 195.55 -1.31
Indiabulls Hsg 705.70 0.05
HDFC Bank 2,005.50 -0.66
Reliance 1,102.85 -0.90
TCS 1,812.55 0.03
Company Price Change %Gain
Yes Bank 195.55 -1.24
Torrent Pharma 1,643.00 0.38
Dewan Housing 232.40 -1.06
Axis Bank 614.30 -1.92
ICICI Bank 351.95 -1.36
Top Gainers
Company Price Change %Gain
Zee Entertain 458.85 4.59
Adani Ports 368.15 1.91
Larsen 1,410.15 0.57
ONGC 152.25 0.33
HDFC 1,873.70 0.30
Company Price Change %Gain
Adani Ports 367.15 1.73
Larsen 1,409.35 0.49
ONGC 152.20 0.30
TCS 1,815.25 0.19
HDFC 1,869.50 0.09
Top Losers
Company Price Change %Gain
M&M 746.10 -2.99
IOC 138.25 -2.37
Grasim 843.35 -2.36
UltraTechCement 3,950.40 -2.31
Hindalco 218.10 -2.26
Company Price Change %Gain
M&M 745.75 -3.02
Tata Steel 539.95 -2.28
Wipro 307.45 -2.10
Axis Bank 614.30 -1.92
Coal India 256.75 -1.61

Live TV

Loading...
Loading...