Directive to Manufacturers to Sell Unsold Stock at Revised MRP with GST Changes
Manufacturers will be allowed to revise prices on old stock until December 31 or until the stock lasts.
On Tuesday, the Centre issued an important directive instructing manufacturers to sell unsold stock at the Maximum Retail Price (MRP) revised as per the recent changes in GST. The government had recently announced GST revisions, which will come into effect from September 22, the first day of Navratri.
From now on, there will only be two GST slabs – 5% and 18%.
Union Consumer Affairs Minister Prahlad Joshi stated in a post that manufacturers, packers, and importers have been given permission to revise MRPs as per GST changes until December 31, 2025 (or until the old stock lasts).
The revised prices should only reflect GST changes, and both the old price and the revised price must be displayed.
