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MRP should include GST Sushil Modi

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MRP should include GST Sushil Modi
Bihar deputy chief Minister Sushil Kumar Modi, who also heads a five member panel on Goods and Services Tax Network, on Thursday suggested that the maximum retail price (MRP) ofaproduct should always be inclusive of tax for the convenience of the consumers.

The deputy CM was interacting with businessmen at a function organised by Bihar Chamber of Commerce and Industries in association with a leading Hindi daily ´Hindustan´. "We (GoM) have suggested the inclusion of GST in maximum retail price.It has been seen across the globe that consumers react when they have to pay tax in addition toaproduct´s price but they usually do not mind paying the MRP when it is inclusive of tax," he said.

Sharing his experiences abroad, he said the situation was no different in Canada, Australia and Singapore."Even in Canada, Australia and Singapore, consumers´ perception changed when they had to pay tax in addition toaproduct´s price.

The same consumers react differently when they were asked to payaparticular percentage of tax that had already been included in the price tag," he said.Sharing his experience abroad, he said the situation was no different in Canada Australia and Singapore."Even in Canda,Australia and Singapore, consumers' perception changed when they had to pay tax in addition to a product's price. The same consumers react differently when they were asked to pay a particular percentage  of tax that had already been included in the price tag,"he siad.
GST is a gigantic reform and people may face teething problems for the first five to six months but things will get smoother in due course of  time, he said Stating that a firm having turnover of Rs 1.5 crore would noew have to file quarterly returns instead  of monthly,he said. "We are making efforts to implement this process of quarterly returns for the businessmen.They will have to deposits tax every month but returns can be filled quarterly."He said that he also wanted the form for fillingh returns to be.
The Business Stanard, New Delhi, 03rd November 2017

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