Govt allows companies to display revised MRP on old unsold packs

MUMBAI: Govt has allowed companies to display revised MRPs on old packs of merchandise that stay unsold, in a reduction to packaged items producers who had been awaiting readability on labelling and packaging to devise methods round passing on GST advantages to shoppers. Firms will nonetheless, have to clear their old inventory by Dec 31. In a notification issued on Tuesday, the buyer affairs ministry mentioned that producers, packers or importers of pre-packaged commodities will likely be permitted to display revised MRPs until Dec 31 or till shares are exhausted, whichever is earlier. Govt has additionally directed companies to declare the modified retail sale worth solely by means of stamping, placing stickers or on-line printing. The transfer will permit companies to replicate the right sale worth to shoppers after changes in GST slabs and in addition allow easy transition to the brand new regime which kicks in from Sept 22. Companies could have to proceed displaying authentic MRPs and can’t overwrite revised MRPs on them. They have additionally been requested to inform shoppers by advertisements and public notices. “Any increase or decrease in price can only match the tax changes,” meals and client affairs minister Pralhad Joshi mentioned in a publish on X. FMCG distributors’ affiliation mentioned that the step will assist shoppers in figuring out the right up to date costs and forestall pointless confusion out there. “We applaud this move as it balances transparency, consumer interest, and ease of operations for distributors and retailers,” mentioned Dhairyashil Patil, nationwide president at The All India Consumer Products Distributors Federation (AICPDF). While most FMCG merchandise have a tendency to have a shorter shelf life, the transfer will assist in tackling inventory of merchandise which have an extended shelf life.