Big Relief: Firms can sell ‘unsold stock’ at reprinted MRP by Sept 30

"New cost can't be higher than degree of increment of duty. The first MRP should keep on being shown and the overhauled MRP might not overwrite it," Srivastava said. For decreasing the MRP, a sticker with the modified lower MRP might be fastened.

 In an announcement issued on Tuesday, Department of Consumer Affairs stated: "In exercise of the forces presented by control 33 (1) of the Legal Metrology (Packaged Commodities) Rules, 2011, the Central government therefore allows the producers or packers or merchants of pre-bundled products to pronounce the changed retail deal cost (MRP) on the unsold stock made/pressed/imported preceding first July, 2017 after consideration of the expanded measure of expense because of GST assuming any, notwithstanding the current retail deal value (MRP), for three months w.e.f. from first July 2017 to 30th September , 2017."

On the issue of registration for the GST, he said about two lakh new registrations have been done since the registration reopened last week. 

Of these, 39,000 have already been approved. The government will also start a one-hour GST Master Class which will be telecast on DD National to guide people in a smooth transition towards the new tax system. The telecast will be from 4.30 PM to 5.30 PM on Thursday, Friday, Monday, Tuesday and Wednesday and from 11.00 AM to 12.00 PM on Saturday.
With regard to the requirement for issuing bills for small traders, Adhia said traders having annual turnover below Rs 20 lakh are exempt from the GST. Traders covered under a composition scheme that requires them to pay a fixed tax are not mandated to provide a break-up of the GST tax on the bills they issue to consumers. 

Bigger businesses with a turnover of over Rs 75 lakh are required to issue bills with break-up of GST but not necessarily computer generated receipts, he said. Even hand-written receipts with a proper invoice number that can be added and filed in returns are allowed to be issued.

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