Economic Ministry orders to include GST in price labels starting from August

Economic Ministry has decided that all prices of goods and services shall be displayed with Goods and Services Tax (GST) included, starting from August this year.

Economic Ministry said yesterday that the new regulation had to be put in place as a difference in price labeling confuses the actual selling price of the products.

“As the GST is a something that is paid by the party buying the good or receiving the service, and the difference in labeling prices are causing confusion amongst the parties receiving the goods and services, the labeling of prices for all goods and services liable for collection of GST shall have GST included in the prices, starting from 1st of August 2013,” said the Economic Ministry.

Majority of goods and services are labeled without GST in the Maldives.