Consumer Affairs Dept Approves Revised MRPs on Old Stock After GST Change

The Department of Consumer Affairs has approved a revision in the prices of remaining everyday items due to changes in GST rates. This decision aims to benefit both companies and consumers. Manufacturers, packers, and importers of pre-packaged goods must declare the updated retail selling price (MRP) on unsold stock produced or imported before the GST rate change.

The department stated that the revised MRP can be displayed by placing a sticker or printing it online, provided the original MRP remains visible and the revised price is not printed on it. The difference between the original and revised prices should not exceed the limit of any tax increase or decrease. Manufacturers, packers, and importers are required to publish at least two advertisements in newspapers. Dealers, along with the Director of Legal Metrology at the central level and relevant departments in states and union territories, must be notified of the price change.

This approval is valid until December 31 or until the stock is exhausted, whichever comes first. Packaging materials or wrappers that were not used before the GST amendment can be used after revising the MRP until December 31 or until the material runs out. Companies indicate that the prices of products stored in warehouses and retail outlets, which are currently fixed under existing GST, will now be subject to change. This will help avoid double inventory costs and pricing issues.