Government Mandates MRP Revision Amid GST Rate Changes

The government announced a directive on Tuesday requiring manufacturers and importers to update maximum retail prices (MRP) on unsold goods to align with revised goods and services tax (GST) rates. This move, designed to ensure transparency, mandates compliance by December 31 or until stocks are exhausted, whichever comes first.

Effective from September 22, the GST revision has resulted in reduced rates for various products and services. Union Food and Consumer Affairs Minister Pralhad Joshi highlighted the need for MRPs to reflect these changes exactly, allowing adjustments only to match the tax modifications.

To enforce this, MRPs may be updated via stickers, stamps, or online print, while retaining the visibility of the original price. Companies must advertise these changes in newspapers and notify dealers and government officials, ensuring consumers are informed and protected.

(With inputs from agencies.)