PUTRAJAYA: The Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) today reminded businesses to abide by the government’s decision to zero-rate the Goods and Services Tax (GST) beginning June 1.
The ministry's enforcement director, Datuk Mohd Roslan Mahayudin, said those who fail to adhere to the directive will face action under the Price Control and Anti- Profiteering Act 2011, Trade Descriptions Act 2011 and the Consumer Protection Act 1999.
“We held discussions and briefings with business associations on May 25 and we hope no issues will arise and they understand the government’s decision,” he said during a press conference here today.
Mohd Roslan said many businesses, especially hypermarkets with large inventories, were facing difficulties in updating their price tags by June 1.
“Businesses have asked for between two and three months to update their price tags. However, they need to ensure that all items in all receipts are zero-rated.
“We have instructed the KPDNKK enforcement division to monitor the prices of goods at all premises to make sure businesses adhere to the directive,” he added.
On a separate matter, Mohd Roslan said the ministry is expected to launch the Festive Season Price Control Scheme for the upcoming Hari Raya Aidilfitri on June 8.
He said the ministry conducted a total of 183,395 checks nationwide under the Price Control and Anti- Profiteering Act 2011.
He said during the checks, the ministry recorded 1,194 cases involving RM882,192 worth of confiscated items and RM180,430 in compounds.
“Checks showed that 113 daily items like seafood, meat, dry foods and vegetables remain the same while 13 other items have seen a price of increase of between 2.78 and 50 per cent.
“Another 14 items showed a price reduction of between 0.19 and 62.58 per cent,” he said.
Mohd Roslan said the price of chicken rose slightly in May but has since dropped.
“During the same period, the prices of vegetables rose slightly because of the drop in supply caused by the weather.
“The prices of several other items have also increased, possibly due to the increased demand during Ramadan. However, the situation has returned to normal,” he said.