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Business : Government Warns Stern Action Against GST Price Hikers

PUTRAJAYA, July 3 (Bernama) — The government will take stern action those who increase prices after the implementation of the Goods and Services Tax (GST) on April 1, 2015, says Finance Ministry Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah.

He said those who sell goods and provide services should not use the GST as an excuse to increase prices because prices of certain items would not go up due to tax exemptions.

“We have requested the Domestic Trade, Co-operatives and Consumerism Ministry to be more firm and take action against those who profiteer by bringing them to court and charging them.

“This firm action will deter those who take advantage of the GST,” he told reporters after the launching of the ministry’s new portal website and 1Pekeliling Perbendaharaan by Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah here Thursday.

Also present were deputy ministers Datuk Ahmad Maslan and newly appointed Datuk Chua Tee Yong.

Mohd Irwan Sergar said over two million products will be monitored nationwide when the GST is implemented.

His ministry has approved the Domestic Trade, Co-operatives and Consumerism Ministry’s request for 472 new staff for enforcement activities in 222 parliamentary constituencies, he said.

More than 10,000 products will be monitored in each constituency when the GST is implemented, he said, adding that a GST Monitoring Committee has also been established to ensure smooth implementation of the new tax system.

On the ministry’s new portal, he said it is dynamic, contemporary, information-rich and equipped with the latest safety features.

Its new 1Pekeliling Perbendaharaan portal, a one-stop centre for public sector financial management, has been updated to be more user-friendly, he said, adding the number of Treasury circulars has also been reduced 84 per cent to 298 from 1,892 previously.

— BERNAMA

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