Economy Minister Fayyaz Ismail has stated that businesses will have the right to increase the prices of non-basic goods.
His statement comes amidst the raising public complaints about the extremely high prices of goods and services with the introduction of 8 percent GST from January 1 this year.
Speaking to local media, Minister Fayyaz said the GST should be charged at a fixed price. At the same time, it is not prohibited to raise the price of goods, said Fayyaz.
Fayyaz highlighted that the government controls the prices of basic commodities. Therefore, traders will have the freedom to set the price of other items, he said. However, if an additional price is charged in the name of the tax, it is a problem, he said.
The government has now set a 16 percent tax on tourism goods and services. The GST on goods and services other than tourism is set to 8 percent.
His statement comes amidst the raising public complaints about the extremely high prices of goods and services with the introduction of 8 percent GST from January 1 this year.
Speaking to local media, Minister Fayyaz said the GST should be charged at a fixed price. At the same time, it is not prohibited to raise the price of goods, said Fayyaz.
Fayyaz highlighted that the government controls the prices of basic commodities. Therefore, traders will have the freedom to set the price of other items, he said. However, if an additional price is charged in the name of the tax, it is a problem, he said.
The government has now set a 16 percent tax on tourism goods and services. The GST on goods and services other than tourism is set to 8 percent.
