MRP violations are coming due GST
Dept of Consumer Affairs and Legal Metrology - Once GST goes live, many stockists/dealers/distributors who have products where tax is going from X% to 28% will be tempted to sell their products above MRP because of the squeeze.
Ex: if someone has 500 printers with mrp 3500 and current tax of 18% inclusive, after gst the tax will be 28% so they will bee tempted to tinker with mrp and up it or bear the loss.
legal metrology inspectors be super careful so you don't let the consumer be duped with fake revised mrp stickers. more
Ex: if someone has 500 printers with mrp 3500 and current tax of 18% inclusive, after gst the tax will be 28% so they will bee tempted to tinker with mrp and up it or bear the loss.
legal metrology inspectors be super careful so you don't let the consumer be duped with fake revised mrp stickers. more
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Oct 31
GST may Affect Working Capital for Exporters Traders who are fully dependent on exports can claim refunds on the exports but will have to first obtain duty paid inputs. Replacing exemption with tax refunds will block a significant capital—Rs. 1,85,500 crores in a year, according to an estimate—for all manufactured goods exporters. The exporters will need separate refund applications for all SGST and CGST/IGST refunds and approval by various authorities will delay the whole process. This is a practice that has drawn criticism from exporters. Furthermore, what makes the refunds more unviable is the law that the interest rate for delayed payments by assesses is at 18% while for any delay by tax authorities it is mere 6%—which may lead to a loss to exporters. more
Jun 26
alreadyGST EFFECT is coming as 1st july is approching.MY BROker share khan intimated me the increase in GST From 15% to 18% more
Jun 25
MRP is inclusive of all Taxes and Duties already paid. Since Duties and Taxes were paid at old rates, there is no point in revising the MRP. Second, it is only the manufacturer has authority to change MRP and dealers and distributors can't change that. If dealers and distributors try changing MRP there would be an overwriting or sticker pasted which would be clearly evident. Hence, changing MRP is most unlikely. more
Jun 14
Why any one should manipulate. Selling is Price + tax, so if tax increases, they should still sell it at their price + tax. And every one should accept the reality. We keep mum when vegetable vendors and such others charge anything even though procurement prices are known then why hue and cry when it is done as per laws ?? Fight those who are exploiting both farmers and general public. more
Jun 14
