Cos hurry up to follow edict on MRP revision

Consumer affairs ministry asks cos to declare revised MRPs on unsold stocks in line with rationalisation of GST rates

- PUSHITA DEY @ New Delhi

AS the September 22 deadline for implementing the new GST rates approaches, companies and regulators are racing against time to ensure proper pricing and labelling of inventories. The Ministry of Consumer Affairs has directed firms to declare revised maximum retail prices (MRPs) on unsold stocks, in line with the rationalisation of GST rates.

Companies have been allowed to display revised MRPs until December 31, 2025, or until existing stocks are cleared. The ministry has clarified that revised MRPs must strictly mirror tax changes—prices can't rise beyond actual increase in tax, and must mandatorily fall where GST rates have been cut.