Price Hiccups

Audrey Azoulay

Though GST was charged at 12.5 per cent and NSL at a nominal rate of 6.5 per cent the effective rate was around 21 per cent.

rnrnUnder VAT the highest rate is only 20 per cent.

rnrnThe finance minister is calling on the business community not to raise prices without cause.

rnrnldblquote You should consider these steps we have taken from the point of public interest, and do the best to cooperate with the government so that the benefits of these will be enjoyed by the public, dblquote Finance Minister Kairshap Chocksy said at a conference last week.

rnrnTax burden will increase on domestic gas cylinders, imported potatoes and onions. But on imported used cars taxes would come down by about 150,000.

rnrnAuthorities will also call for explanation from firms who advertised goods on pre-VAT prices.rn

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