The Union Government on Friday extended the last date of using (Maximum Retail Price) MRP labelled pre-Goods and Services Tax (GST) stock to December 31. This step of the Consumer Affairs Ministry will be a relief for the traders, who were reportedly stuck with old stocks. “The Finance Ministry has given a nod to the extension of date and the Consumer Affairs Ministry will issue the notification,” the Finance Ministry sources said earlier.
Under the existing rules, the companies had time till September 30 to clear unsold pre-GST goods with a revised MRP to be displayed along with printed sale price to reflect the changes post the new tax regime kicking in. Also, the old MRP will have to be clearly on display along with the revised MRP sticker.
Union Finance Minister Arun Jaitley on Thursday met exporters and industry bodies to discuss their concerns and glitches regarding GST.