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Relaxation of Legal Metrology (Packaged Commodities) Rules, 2011 for implementation of the GST [Last Date to revise MRP: 30th September, 2017]

Goods and Services Tax - GST - By: - CASanjay Kumawat - Dated:- 1-9-2017 - Introduction A maximum retail price (MRP) is a manufacturer calculated price that is the highest price that can be charged for a product sold in India. However, retailers may choose to sell products for less than the MRP. MRP differs from systems using a recommended retail price because in those systems the price calculated by the manufacturer is only a recommendation, not enforceable by law. All retail products in India .....

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uding the GST. It may be noted that GST is included in MRP and is not to be charged over MRP. Revision of MRP after implementation of GST With coming into force of the GST law where there is a need for revising the retail sale price above the already printed MRP on a pre-packaged commodity. According to Circular No. WM-10(31)/2017 dated 4th July, 2017 issued by Department of Consumer Affairs (Legal Metrology Division) in respect to the impact of GST on unsold stock of pre-packaged commodities, i .....

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0th September, 2017. Manufacturers/ Packers/ Importers can declare such revised MRP on their unsold stock through stickers/ online printing/ stamping, with the following conditions: Difference cannot exceed the net price increase on account of incidence of tax after factoring in and taking into consideration extra availability of input tax credit under GST [including deemed credit available to traders under proviso to section 140(3) of the CGST Act,2017], Original MRP shall continue to be displa .....

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ies only to the goods sold in the pre-packaged form, excluding scheduled formulations and non-scheduled formulation covered under the drugs (price control) order. Commodities sold in loose condition are not covered under the said order. Calculation of new MRP New MRP of unsold stock manufacture/ packed/ imported prior to 1st July 2017 should not be calculated mechanically but after factoring in and taking into consideration extra availability of input tax credit under GST [including deemed credi .....

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