Govt. permits manufacturers
/ packers / importers of pre-packaged commodities to declare revised MRP on
unsold stock as on appointed date, in addition to existing MRP, upto December
31; Unexhausted packaging material / wrapper can also be used upto earlier of
said date or till such date same is exhausted after making corrections required
in MRP on account of implementation of GST; Declaration of changed MRP shall be
made by way of stamping / putting sticker / online printing after following
prescribed conditions; These conditions stipulate that – (a) MRP originally
printed on package and revised price shall not be higher than extent of
increase in tax on account of GST, (b) new MRP should be declared after
factoring in and taking into consideration extra availability of Input Tax
Credit (including deemed credit) under GST, (c) revised MRP shall not overwrite
original one, and (d) manufacturers / packers / importers must make atleast 2
advertisements in newspapers indicating change in price if not done earlier;
Also clarifies that for reducing MRP, a sticker with revised lower price
(inclusive of all taxes) may be affixed and same shall not cover MRP
declaration made by manufacturer / packer / importer on the label of package :
Dept. of Consumer Affairs Letter
Subscribe to:
Post Comments (Atom)
GST Not Leviable on Transfer of Leasehold Rights of MIDC Plots: SC Dismisses Revenue’s SLP
In a significant development, the Supreme Court has dismissed the Revenue’s Special Leave Petition (SLP) challenging a Bombay High Court (...
-
· Legal Framework: Section 171 of the Income Tax Act, 1961 provides the legal framework for the partition of a Hindu Undivided...
-
New utility for generation of Form 16A in pdf format provided by https://www.tdscpc.gov.in is very light and is sized only 8.43 MB while ...
-
1. Introduction Cross-border investment structures often employ intermediate holding companies in jurisdictions like the Cayman Islands. A c...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Issue before the Income-tax Appellate Tribunal (ITAT) Whether the phrase “paid up capital and general reserves” should be defined as “Ne...
-
Introduction Employee welfare is a cornerstone of corporate responsibility, and gratuity forms a critical part of the social security benefi...
-
Facts Saptarshi Ghosh (the tax payer) was a salaried employee of TCS Limited (employer), an Indian company. He was on deputation to the U...
-
Selling a property can trigger a significant tax liability in the form of capital gains tax. However, the Income-tax Act, 1961, allows you...
-
In the complex landscape of India’s Goods and Services Tax (GST), the tax treatment of non-compete fees has emerged as a critical area f...
-
The newly enacted Income Tax Act, 2025, marks a significant step toward simplification by consolidating multiple presumptive taxation sche...
No comments:
Post a Comment