DON’T LET SELF-INTEREST ALA NAJIB & CO SPOIL THE PEOPLE’S WONDERFUL VICTORY: AHEAD OF JUNE 1 D-DAY, CUSTOMS TELLS TRADERS TO ‘LOWER YOUR PRICES AFTER GST ZERO-RATED OR ELSE …’

The Customs department has warned traders not exploit the upcoming zero-rating of the GST on June 1.

Customs director-general T Subromaniam said businesses must instead channel their savings into lowering the prices of goods.

“Businesses are urged to channel the savings from (lowering the GST) base rate from six percent to zero percent to consumers in the form of cheaper goods.

“Businesses are urged not to exploit the government’s wishes to lower prices and benefit consumers,” Subromaniam said in a statement today.

The Customs Department is the body in charge of collecting GST.

Subromaniam also reminded traders that the zero percent tax rate would be in place until further notice.

The new Pakatan Harapan government is planning to replace the tax with the sales and services tax (SST), although no timeline has been given for the switch as of yet.

“The government will not be implementing SST beginning on June 1, and the real start date for the SST will be announced later.

“The government will take stern measures to ensure the prices of goods and services are set in accordance with the Price Control and Anti-profiteering Act 2011,” he added.

Businesses seeking clarification may refer to the Customs website and portal.

– M’kini