Union Government, which is closely monitoring the price and supply situation of commodities following implementation of Goods and Services Tax (GST), on 4 July 2017, said that the manufacturers/companies have time until 30 September 2017 to clear the unsold pre-GST goods.
The government has allowed manufacturers, traders and importers to clear their stock lying with them prior to 1 July 2017 by 30 September 2017.
Briefing media in New Delhi, Consumer Affairs Secretary Avinash Srivastava said, if the rates of commodities have gone up following the imposition of GST then, the companies will have to display the revised and previous rates on packets and publish it in at least two newspapers. The revised rate stickers on unsold items have been allowed till 30 September 2017.
However, where the price has gone down, the manufacturer/the company will not have to publish the rates in the newspaper but they will have to display the old and revised rates on packets.
In addition to this, the Revenue Secretary Hasmukh Adhia has informed that the Cabinet Secretary PK Sinha on 3 July 2017 chaired the meeting of Central Monitoring Committee to take stock of price situation. The meeting will be held every Tuesday regarding it.
According to Adhia, 175 senior officers of Central Government will be given the responsibility of four to five districts to monitor the GST situation.
The Revenue Secretary said they will be briefed about their responsibilities on 5 July 2017 in Vigyan Bhawan.
Adhia said, all the state governments except Jammu and Kashmir have notified GST-related rules and people have accepted it well and no issues have been reported so far in the implementation of GST.
Besides, to educate people about GST, a six-day master class will be started from 6 July 2017 for one hour per day. At the same time, the media campaign is on to educate the people about the reduction in commodity prices after the implementation of GST.
Where: Across India
When: 4 July 2017
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.
Parliament passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018
Assam-NRC Draft can’t be basis of any action by any authority: SC
Government to soon introduce bill proposing death penalty for mob lynching
Ministry of Shipping issues new guidelines for improving treasury investment for Major Ports