Also, if the vendor is paying manufacturers in July and invoices are created in June then those taxes will apply which were existing in pre GST regime, Adhia said.
Earlier in the day, Consumer Affairs Minister Ram Vilas Paswan warned of a penalty of up to Rs 1 lakh, including a jail term, if new post GST rates are not printed on the inventory in the interest of consumers. Manufacturers have been allowed to clear the unsold stocks by September with new MRP.
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.
More than 700 queries have been received by the consumer helplines and the ministry 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 redressal mechanism is in place to resolve the concerns of consumers and traders," Paswan told reporters.