An APTRA delegation met with the with the Indian Central Board of Excise and Customs (CBEC) Commissioner earlier this month to seek clarity on the recently announced rule change with regards to sale in Indian Rupees and the display of prices in dual currencies at India’s duty free shops.
The new regulations enable passengers to pay in Indian currency up to 25 000 Rs – a welcome change by the industry. The regulations also require that the exchange rate be displayed in stores which does not create any specific challenge. Retailers in India were concerned by the impracticality and logistical challenges of displaying the prices of every SKU in the stores in both USD and Indian Rupees (INR).
The display of product prices in INR, it was confirmed by the Commissioner, is permitted via electronic displays, bar code scanners, APPs or other such devices at various locations around the store, where both the USD and INR prices are to be displayed alongside each other as opposed to on every SKU.