Not printing new price can put traders in jail

New Delhi: Consumer affairs minister Ram Vilas Paswan on Friday said that  a fine of up to Rs 1 lakh and a jail term if new post-GST rates are not printed on the inventory in the interest of consumers.

Earlier this week, the Centre allowed manufactures struck with unsold inventories manufactured before July 1, to change their MRP by pasting stickers.

This has been allowed only for three months. The manufacturers can increase or decrease prices of these products depending whether tax on these products has risen or decreased post GST.

The government on Friday said that it is mandatory to print the revised MRP on the inventory, else stringent action will be taken for violation of the Packaged Commodities Rules.

Non-compliance of this will attract a fine of Rs 25,000 for first time offence, '50,000 for second time and up to Rs 1 lakh penalty for third offence onwards and even imprisonment of up to one year.

“We have told companies to reprint revised rates on unsold goods. Stickers of new MRP should be pasted so that consumers are aware of the change in rates after GST,” Mr Paswan said.

However, before increasing MRP of unsold inventory, firms will have to make atleast two advertisements in one or more newspapers indicating price change. Also the originally printed MRP shall continued to be displayed and the revised price will not overwrite on it.

Mr Paswan said that a committee has been set up to address consumer grievances and even helplines have been increased.