Reports by ZAZALI MUSA, MANJIT KAUR, RAHIMY RAHIM and CRYSTAL CHIAM SHIYINGPETALING JAYA: All registered businesses have been told to lower prices following the Government’s move to zero-rate the Goods and Services Tax (GST) from June 1. Customs director-general Datuk Seri T. Subromaniam said businesses must follow the ruling by passing down the 6% savings to consumers. “We urge business operators not to exploit the Government’s intention to lower prices of goods and services for consumers,” he said in a statement. GST zero-rated supply means the goods and services are not taxed, hence the taxable company does not need to collect any GST on sales. “Therefore, all businesses must lower prices which was previously set at 6% beginning next month,” he said.

Source: The Star May 27, 2018 23:13 UTC