Chapter-5 Provisions Relating to Determination of Price of Goods or Services

Chapter-5 Provisions Relating to Determination of Price of Goods or Services

  1. List of essential food and other goods and service: (1) The Government of Nepal shall determine the list of essential food and other goods or services by a notification in the Nepal Gazette from time to time.

                        (2)        The maximum price of essential food and other goods or services shall also have to be fixed in the list pursuant to sub-section (1).

                        (3)        While selling the goods or service pursuant to sub-section (1), the seller shall not sell, or cause to be sold, the same in a price higher than that referred to in sub-section (2).

  1. To keep price list and registration certificate: (1) Price list shall have to be kept by clearly specifying the factory price of each of the goods by the producer, wholesale or retail price of goods to be sold and distributed by the seller, and price of the service to be provided by the service provider.

                        (2)        If it is an industry to produce the goods, the industry registration certificate, and in the case of business, business registration, license shall have to be displayed at the place of sale in a way visible to the general people.

                        (3)        The Government of Nepal may, by a notification in the Nepal Gazette, establish a price information center as prescribed.

                        (4)        The producer and wholesaler or retailer located in the district concerned shall have to provide the factory price and the wholesale or retail price respectively to the price information center established pursuant to sub-section (3).

  1. Provision to determine standard of price of goods or service: (1) The agency as prescribed shall prepare the standards relating to determination of price of goods or services as prescribed.

                        (2)        While preparing standards relating to price determination pursuant to sub-section (1), profit amount to be taken by the seller also shall have to be accepted as basis in such a way that production cost of the goods, transport expenses, custom, tax, charge paid by the importer pursuant to law shall not be more than the percentage fixed while selling.

                        (3)        While preparing standards relating to the determination of price of any service, if the agency prescribed pursuant to sub-section (1) has assigned anybody or authority in accordance with the law regulating or managing the conduct and functions of the person who provides such a service, the standards shall have to be prepared as per the standards determined by such a body or authority.

                        (4)        While preparing standards, in case the standards are not determined even after the body or authority is assigned pursuant to sub-section (3), such a body or authority shall have to be consulted with.

                        (5)        While preparing standards relating to the determination of price pursuant to sub-section (1) or (3), the standards may be determined differently to make the maximum price, be taken for such goods or services provided, on the basis of the geographical region, nature of the services and particular place.