GST Benefit Now for Consumers: Old Stock Can Get New MRP Stickers Until December 31
The Central Government has taken a key decision to ensure that the benefits of reduced GST rates reach the common man. Companies have been allowed to paste new price stickers on old stock in line with the GST rate cuts. This will make it easier for consumers to immediately enjoy reduced prices.
Normally, the Maximum Retail Price (MRP) printed on products cannot be changed once goods enter the market. However, with the GST reduction effective from the 22nd of this month, the government has allowed companies to revise MRPs of their existing stock accordingly.
- Companies can paste new stickers with revised prices on old stock.
- The old MRP must remain visible below the new sticker.
- Only tax-related price changes are allowed.
- This facility will be available until December 31, 2025, or until the old stock is sold.
Union Minister Prahlad Joshi stated that this move is aimed at ensuring transparency in the implementation of GST rate cuts.
Big Price Cuts in Vehicles
Automobile companies have also slashed prices:
- Yamaha bikes – up to ₹17,581 reduction.
- Bajaj bikes – up to ₹20,000 reduction.
- Honda cars – ₹57,000 to ₹95,000 cut.
- Jaguar Land Rover (JLR) – massive cut between ₹4.5 lakh and ₹30 lakh.
- Volvo cars – up to ₹6.9 lakh reduction.
