KUALA LUMPUR: The Domestic Trade, Cooperatives and Consumerism Ministry for the Federal Territory has begun inspections on Goods and Services Tax (GST)-registered businesses following the government’s announcement that the rate will be reduced from six to zero per cent, starting June 1. We will establish a database by May 31 to make sure traders reduce their prices. The new directive does not include goods and services listed in the Goods and Services Tax (Exempt Supply) Order 2014, which remain exempted from GST. Low said that a total of 95 enforcement officers and 88 price monitoring officers surveyed prices of more than 200 items. Prices of 44 items, such as processed chicken and eggs, were monitored daily and some items were recorded weekly.

Source: New Strait Times May 27, 2018 06:00 UTC