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)
Navigating the Complexities of GST Pre-deposit Requirements Before GSTAT
The introduction of the Goods and Services Tax Appellate Tribunal (GSTAT) has brought significant changes to the pre-deposit framework for...
-
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...
-
Sr No Due Date Related to Compliance to be made 1. 11.06.2026 GST ...
-
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...
-
Selling a property can trigger a significant tax liability in the form of capital gains tax. However, the Income-tax Act, 1961, allows you...
-
Capital gains taxation on immovable property under the Income-tax Act, 1961 often turns on a deceptively simple question: when is a proper...
-
Tax Deducted at Source (TDS) is generally not applicable to interchange fees, payment gateway charges, or the Merchant Discount Rate (MDR)...
-
The newly enacted Income Tax Act, 2025, marks a significant step toward simplification by consolidating multiple presumptive taxation sche...
-
Introduction The law relating to companies is laid down in Companies Act, 2013 and the rules made thereunder and t...
No comments:
Post a Comment