Director of the DoCSM Hari Narayan Belbase said the step was directed at controlling growing market anomalies. “It could help to manage market prices in an effective way besides facilitating market monitoring by the department,” he added.

The goods to which the price tag rule will apply are readymade garment, cotton, thread, footwear and food products like rice, maize, wheat, buckwheat, pulses and edible oils. Similarly, packaged food, bread, chewing gum, ghee, dairy products and meat items will be required to be labelled with the MRP

Likewise, construction materials, kitchen utensils, surgical and lab related products, homeopathic medicines, electrical appliances, electronic products, stationery, sports goods, cosmetics, toys and ceramic and plastic products will have to have price tags.

The price label rule has been in force for four years for 12 imported goods. Currently, television, washing machine, microwave oven, energy drink, marble, granite tile, cooking range, chimney, digital camera, video camera and automobile are required to have price labels.

Belbase said the enforcement of the MRP label could also help promote healthy competition in the domestic market. According to him, importers will have to publicly announce the MRP of the imported goods each time. “The department will take action against importers disregarding the rule,” he said.

Shishir Dhungana, director general of the Customs Department, said the provision could minimise the growing practice of under-invoicing imported goods. He added they would track the MRP at customs point. “We have started developing IEC (import export code) numbers.”

After the IEC system is implemented, importers will be allowed to bring only the selected types of goods at a time.

“The price label rule will permit us to track the difference in the market price and the price declared at the customs point,” he said.