Traders’ body CAIT today appealed to Consumer Affairs Minister Ram Vilas Paswan to allow pasting of revised price stickers on products whose prices have been changed due to modifications in GST rates. The move comes against the backdrop of change in taxation structure of about 200 items by the GST Council at its meeting on November 10. “As a consequence of above changes, prices of a number of items will need to be revised on stocks lying in the markets and stocks held at the level of manufacturers,” CAIT pointed out.
The Confederation of all India Traders (CAIT) sought the minister’s intervention in this regard, urging him to issue a notification permitting pasting of revised prices till March 31, 2018, in order to enable traders to liquidate the stocks. “It is estimated that goods worth of about Rs 9 lakh crore are still in markets across the country, of which goods of about Rs 6 lakh crore are in packaged condition having MRP, besides stocks held by manufacturers,” CAIT said.