Prices down a month after GST – Bernama

The implementation of the goods and services tax (GST) which entered its first month today saw a drop in the price of several types of goods amid worries among the people of impending price hikes.

It was reported 99 types of goods in the peninsula, 145 in Sabah and 102 in Sarawak would have lower prices after the implementation of GST based on an analysis of the National Price Council which made a price comparison between the third week of March and April.

Cheaper items included wet stuff, dried canned and packaged goods and baby food and products.

"Not all goods became more expensive after GST as many thought," said Domestic Trade, Cooperative and Consumerism Ministry secretary-general Datuk Seri Alias Ahmad.

He did not rule out irresponsible traders taking advantage to raise prices including those with zero GST.

"There should be no price hike on goods with zero GST and consumers should report if there are such incidents," he said.

On higher price of goods, Alias clarified that some were inevitable due to unfavourable foreign exchange rate, rising costs in the country of origin and the weather.

In this regard, the ministry enforcement is intensifying efforts to ensure compliance to GST regulations and that traders do not take advantage of the situation.

From April 1 to 28, the ministry conducted inspections on 182,059 premises nationwide in which action was taken in 510 cases while 729 notices under Section 21 of the Price Control and Anti-Profiteering Act 2011 were issued.

The management of a restaurant in Section 16, Shah Alam, became the first to be charged with an offence under the Goods and Services Tax Act 2014. – Bernama, May 1, 2015.