The government has favoured the traders who are pleading for the time extension to sell their old priced goods after GST. The time has been extended until 31 December 2017 in which the traders who have old stock remained with them can sell it until the end of this year. Confederation of all India Traders (CAIT) and numerous other traders organization asked for the time extension in order to sell the goods remained. Ram Vilas Paswan who also sees the matters related to the consumers gave this detail of time extension recently.
GST has been implemented starting from 1st July and the government stated that all the products with MRP printed on them would be sold along with the revised price sticker and the time was given till 30 September. The MRP must be included all the related taxes which was applicable before GST.
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After the implementation of GST, it was seen that the prices of various products have fluctuated in due course, the reason being of tax effects were more or less on almost every product. Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan tweeted, “Industry on packaged commodities can show revised prices through sticker, stamping, online printing due to GST.”
Now the time limit to sell the old priced products has been extended till 31 December as it was also requested by various tech giants also including Wipro, HPL. The traders association CAIT in a statement said that the major issue was the losses which were to be incurred in case, the time limit was not extended amounting to Six lakh crores.