New Delhi: Consumer affairs minister Ram Vilas Paswan on Friday warned of a fine of up to Rs 1 lakh and a jail term if post-GST rates are not printed on the inventory in the interest of consumers.
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, Rs 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 the GST,” Mr Paswan said.
Earlier this week, the Centre allowed companies stuck 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 revise the prices depending upon whether tax on these products has risen or decreased post-GST.
