Centre gives time till Sept 30 to re-label new retail price on unsold stock

In a relief to manufacturers, packers and importers, the Central government has allowed them tore-label new retail prices on their unsold pre-packaged products by September 30, 2020.

In the wake of revision in Goods and Services Tax (GST), the Union consumer affairs ministry issued an order. It allows stamping, putting stickers and online printing of new retail prices on unsold pre-packaged commodities manufactured, packed or imported prior to the revision of goods and services tax (GST).

The companies have been given time for re-labelling of new retail prices by September 30, or till such date the stock is exhausted, whichever is earlier, the order said. The government has asked the companies to continue display of original retail price on the unsold pre-packaged products and not overwrite the revised rate on it.

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The companies have also been asked to give two advertisements in newspapers in this regard besides circulating notices to dealers. Besides, they have also been allowed to utilise unused wrapping and packaging material till September 30.

On March 14, the GST Council had increased the GST rate on mobiles phones to 18 per cent from 12 per cent, while the tax rate on handmade and machine-made matchsticks has been rationalised to 12 per cent with effect from April 1. Whereas GST on maintenance repair overhaul (MRO) services for aircraft has been slashed to 5 per cent from 12 per cent.