GST is basically consumers tax. Whether we like it or not, GST - TopicsExpress

GST is basically consumers tax. Whether we like it or not, GST will be imposed with effect from 01.04.2015 by the government of Malaysia. Indonesia has implemented GST in the year 1984. Countries like Thailand, Cambodia, Laos, Vietnam, Singapore, Philippines have implemented GST. Myanmar & Brunei have not implemented GST yet. For existing business, if annual gross turnover or gross revenue has exceeded RM500k, please register for GST before 31.12.2014 in order to avoid PENALTY for late registration and non compliance. If you have more than one sole proprietor business and if the aggregate gross turnover or revenue of all the sole proprietor business exceeds the RM500k threshold, you should register for GST. HOWEVER, I HOPE BUSINESS OWNERS DONT INFLATE THE PRICES OF THE BASIC NECESSITIES WHICH WILL CAUSE FINANCIAL BURDEN TO THE CONSUMERS, ESPECIALLY THE LOWER INCOME GROUP.

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