https://www.taxtmi.com/news?id=18515 Implementation of GST requires sellers to adjust retail prices where tax incidence changes. Consumer Affairs advises that reduced MRPs may be shown by affixing a sticker with the revised lower MRP inclusive of taxes, provided the sticker does not cover the manufacturer's original MRP declaration; this has been circulated to Controllers of Legal Metrology. Section 171 of the GST law mandates that reductions in tax rates or benefits of input tax credit be passed on by way of a commensurate reduction in prices, and empowers the government to constitute an authority to examine compliance. en-us Sat, 29 Jul 2017 12:38:45 +0530 Sat, 29 Jul 2017 12:38:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18515 Implementation of GST requires sellers to adjust retail prices where tax incidence changes. Consumer Affairs advises that reduced MRPs may be shown by affixing a sticker with the revised lower MRP inclusive of taxes, provided the sticker does not cover the manufacturer's original MRP declaration; this has been circulated to Controllers of Legal Metrology. Section 171 of the GST law mandates that reductions in tax rates or benefits of input tax credit be passed on by way of a commensurate reduction in prices, and empowers the government to constitute an authority to examine compliance. News - Sat, 29 Jul 2017 12:38:45 +0530 https://www.taxtmi.com/news?id=18515