Minister: Price tags to incorporate GST charges soon

Hamzah-Zainuddin_gst_600

KUALA LUMPUR: Putrajaya will soon make it compulsory for traders and businesses to display the prices of goods that incorporate the goods and services tax (GST) as well as credit card charges.

“Soon, what you see is what you get,” Domestic Trade, Co-operatives and Consumerism Minister Hamzah Zainuddin said when winding up his speech here today.

Currently, prices on display in some shops do not factor in the additional 6% consumers will have pay when purchasing certain goods.

The new mechanism, Hamzah said, would mean that consumers would pay according to the price displayed on the tag.

He said this policy would help allay fears of hidden costs in goods and services.

“Customers can lodge a complaint with us if they pay more than what is stated.”

The policy is part of amendments to the Price Control and Anti-Profiteering Act passed in the Dewan Rakyat today. It will take effect once it is passed in the Dewan Negara and gazetted.

Hamzah added however that traders were allowed to offer discounts after displaying the prices.

The amendments will also allow enforcement officers to ensure that traders and businesses provided accurate information in their price lists.

Those who fail to comply with the new requirements risk a fine of between RM50,000 and RM200,000 and a jail term of between two and five years.