PUTRAJAYA, May 27 — Traders nationwide are required to reduce the price of goods to correspond with the abolition of the six per cent standard Goods and Services Tax (GST), starting June 1.
Customs Director-General Datuk Seri Subromaniam Tholasy said traders were also urged not to exploit the government’s intention to lower prices of goods to benefit consumers.
All well and good. But what about traders' having stocks bought earlier which incurred GST? Should they sell at a loss?
Customs Director-General Datuk Seri Subromaniam Tholasy said traders were also urged not to exploit the government’s intention to lower prices of goods to benefit consumers.
All well and good. But what about traders' having stocks bought earlier which incurred GST? Should they sell at a loss?
I read somewhere that Kedah has already readied 300 enforcers to check that traders sell their goods at 0% GST.
Reminds me of the BN government era when such enforcers checked kopitiam and mamak shops for alleged profiteering, even if those traders had to sell at a loss. And also those poor bus companies.
Same old same old.
"But what about traders' having stocks bought earlier which incurred GST? Should they sell at a loss?"
ReplyDeleteThat is why the GST act is still in place. Input GST paid by businesses can be reclaimed.
This was one of the key failures of the Najib GST, which forced businesses to actually build GST paid into their selling price.
The Minister of Finance , which has Kastam reporting to him, needs to put this to the Kastam in no uncertain terms.
wat same old same old, everyone especially consumer is working hard to ensure price come down, yr najib is the worst human being that suck the people money to feed dedak eater like u.
ReplyDeleteAll bullshit. In the end, most of them will have 1001 excuses why they need to maintain prices. Those that comply might grudgingly do so for a while, but slowly increase it to recoup their margin losses. I do not expect any miracles except for another round of price increases.
ReplyDeletedun envy our ph govt capability, even yr pas know we can clear the debt wakakaka
DeleteClear debt? When little Penang can't even clear their debts accumulated for 10 years? And with #YourPM that have never cleared any debts except his sons', during his 22 years of rule? I only envy at your obliviousness and how you can live with it.
DeleteThe Customs DG, shown once in photos as a bootlicker during election campaigning is now bootlicking again to a new PH Govt.
ReplyDeleteWhen is he going to get rid off corruption among his men and all those politically minded appointees who used the dept. facities to mix politics with Govt. duties in intimidating others.
What this cheebye kaytee going to do.......hahahahaha
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