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‘Display new GST price on products’:
Context
- GST implementation resulted in some price changes. Prices of some items have gone up while the prices of others have gone down. How the price change is being displayed is a matter of discussion
The Pricing Process
- Those products whose tax burden has increased after the launch of GST, the price of such products can be increased as long as manufacturers advertise the raise in a local newspaper.
- They will also have to put a sticker with the new price on the product.
- In case the price has to be lowered manufacturers will have to paste the sticker but will not have to place any advertisements in the local newspaper.
- The provision to use goods manufactured before July 1 is extended for three months
- The government has granted relaxation till 30.9.17 to industry under Packaged Commodities Rules to write new MRP on items of reduced prices due to GST
Why the Concern over Price Display
- These rules for price rise/fall and corresponding advertisements in paper and sticker showing the new price has been issued, so that the benefits of decreased prices, by reduction of tax after imposition of GST, should reach the consumers.
