The Indian government has extended the deadline for mandatory MRP declaration on products to March 31, 2026, aiming to smoothen the transition under GST 2.0 reforms. This move provides businesses, especially SMEs and retailers, more time to comply with the updated rules without facing penalties.
Key Details
Original Deadline: Earlier set for December 31, 2025.
New Deadline: March 31, 2026.
Reason: To reduce compliance pressure and allow businesses to align with GST 2.0 rate structures.
Why This Matters
Eases Compliance Burden: Businesses can update packaging and pricing systems without rushing.
Supports GST 2.0 Implementation: GST 2.0 aims to simplify taxation and improve transparency, but initial phases can be challenging for traders.
Protects Consumers: Accurate MRP declarations ensure buyers are charged correctly and maintain trust in pricing.
Business Impact
SMEs Benefit: Smaller businesses often need extra time to adjust accounting and pricing systems.
Larger Retailers: Can ensure full inventory compliance across multiple states without last-minute chaos.
Avoids Penalties: Delaying the deadline helps reduce fines or legal issues linked to non-compliance.
FAQs
Q1. What is the MRP declaration requirement under GST 2.0?
Businesses must clearly display the Maximum Retail Price (MRP) on all products to comply with updated GST rules.
Q2. Why was the deadline extended?
To give businesses more time to comply with GST 2.0 changes, reducing operational pressure and avoiding penalties.
Q3. Does this affect online and offline retailers alike?
Yes. Both e-commerce platforms and brick-and-mortar stores must update their product MRPs in line with the new GST 2.0 regulations.
Q4. When is the final deadline?
March 31, 2026.
Published on : 18th September
Published by : SMITA
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