CLOSE
CLOSE

Believe It Or Not, A Good Number Of Items Are Actually Cheaper After GST

The Domestic Trade, Cooperatives and Consumerism Ministry said some goods should be sold at lower prices now.


  • Share:

Believe It Or Not, A Good Number Of Items Are Actually Cheaper After GST
Image: GST
Complaints of increased cost of living and prices of goods are part of every Malaysian’s daily conversation.
 
Since the implementation of the goods and services tax (GST) in April 2015, this acronym has become the bane of our existence because it seems like everything just became more expensive.
 
But according to the government, that is not the case. In fact, some items became cheaper!
 
In a statement by the Domestic Trade, Cooperatives and Consumerism Ministry, the prices of 16 to 26 per cent of 1,396 goods have since decreased, as reported by Free Malaysia Today.
 
That’s somewhere between 223 to 363 items that are supposedly sold at lower prices now.
However, the ministry reportedly did not include the exact list of items because the prices are not based entirely on the GST. Other factors like the ringgit exchange rate, wages, supply and demand, weather and fuel prices would also affect prices.
 
The issue of rising costs could be due to traders who refuse to reduce prices. Prime Minister Datuk Seri Najib Razak also reportedly criticised said merchants who increase the prices of items and blame it on the GST.
 
He also said 165 countries around the world had implemented the GST as well and Malaysia is not the only one. In fact, India recently fixed theirs at 28 per cent!
 
So, we shouldn’t be complaining about our 6 per cent, right?

  • Share:

Comments

Related Articles

Back to top