GST impact on manufacturers: Taking a strict stance on revised prices after the implementation of Goods and Services Tax (GST), Consumer Affairs Minister Ram Vilas Paswan today warned manufacturers of a fine of up to Rs 1 lakh and a jail term.
GST impact on manufacturers: Taking a strict stance on revised prices after the implementation of Goods and Services Tax (GST), Consumer Affairs Minister Ram Vilas Paswan today warned manufacturers of a fine of up to Rs 1 lakh and a jail term. Paswan said those companies who will not print the revised rates on their inventory in the interest of the consumers will be fined. While talking to PTI, he added that non-compliance of this order will lead to a fine of Rs 25,000 for the 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. The manufacturers have been given time till September the clear old stocks but only with the new MRP.
Meanwhile, a committee of the consumer affairs ministry has been set up to address consumer grievances on GST and even helplines have been increased to 60 from 14 to address tax-related queries, he said. He added that the ministry has received over 700 queries through consumer helplines fo far and has sought expert help from its finance counterpart to resolve them. “There are initial hiccups while implementing GST, but all those will be resolved soon. All ministries concerned, including finance and consumer affairs, are alert and a redressal mechanism is in place to resolve the concerns of consumers and traders,” Paswan was quoted saying by PTI in Delhi on Friday afternoon.
Talking about the effect of GST on prices of goods, Paswan said some prices have increased while others have gone down. “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,” he said. Paswan said not printing revised prices will be taken for violation of the Packaged Commodities Rules.
Paswan also said the new rates to be printed on the inventory should be communicated to the consumer affairs ministry and advertised for better awareness of consumers. India implemented the Goods and Services Tax (GST) on July 1.