GST rate changes: Compliance for packaged goods firms eased

The ministry of consumer affairs has eased the compliance norms for packaged goods firms ahead of the rollout of goods and services tax (GST) rate revisions.

- Suneera Tandon

In a notification on Thursday, the department of consumer affairs issued provisions allowing “voluntary” use of revised price stickers on the goods and waiving off of the requirement for manufacturers and importers to publish the revised prices in two newspapers. The changes follow representations from industry and trade associations seeking simpler procedures to transition to revised prices.

Revised GST rates are set to take effect on 22 September.