GST Rate Change: Govt Allows Companies to Revise MRP on Unsold Stocks In a move that has brought relief to businesses across India, the government has allowed manufacturers, importers, and packers to revise the Maximum Retail Price (MRP) on unsold stocks after the new Goods and Services Tax (GST) rates came into effect. Union Minister Pralhad Joshi made the announcement, clarifying that the revision will be permitted until December 31, 2025 , or until stocks last. Goods and Service Tax(India) This decision comes at a time when companies were facing mounting pressure to deal with unsold inventory packaged under old GST structures. The flexibility will not only reduce wastage but also ensure fair pricing for consumers. Why This Decision Matters The GST Council recently approved revisions in tax slabs on multiple goods and services. Whenever such changes take place, companies face a dual challenge: Old Stock Issue – Products already packed with old MRPs become difficult t...