The Ministry of Consumer Affairs, Food and Public Distribution, on 1st August, 2022 issued a circular permitting manufacturers or packers or importers of pre-packaged commodities to declare the revised retail sale price (MRP) on the unsold stock prior to revision of GST, after inclusion or reduction of applicable amount of tax, in addition to the existing MRP upto 31st January 2023 or till such date the stock is exhausted, whichever is earlier.
Declaration of such changed MRP must be made by way of stamping or online printing subject to the following conditions-
- The difference between the price originally printed on the package and the revised price shall not be higher than the extent of increase in tax, or in case of imposition of fresh tax, on account of GST Act and Rules, or in the case of reduction, the revised price shall not be higher than the extent of price reduction after tax.
- The original MRP must be visible and the revised price must not ne overwritten on it.
- At least two advertisements must be made in one or more newspapers regarding such revision in price. Notice must also be circulated to dealers and concerned authorities regarding the same.
