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Can a Retailer Change MRP?
Can a FMCG Retailer change the MRP of the unsold stock in hand.? GST rate during sales is 28% while during purchase VAT was paid 14.5% and ITC taken is only 14.5%. Therefore the Retailer will suffer a huge loss.
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No you can not change MRP but in this transaction period Government has release this notification
"Under the GST regime, if a price of a product has increased the manufacturer/ importer/ packer will have to give an advertisement in two newspapers about the new MRP and put a revised sticker on the packaging,", Department of Consumer Affairs Secretary Avinash Srivastava said. Both the new and the old MRP must show on the packaging, he added.
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