Friday 10 April 2015

KEEPING UP WITH GST

Malaysia has enforced GST effective from 1st April, 2015.  There are many programs organised by the Government and NGOs for public awareness to understand further how this tax mechanism works.  It is not the additional tax. It is the replacement of Sales and Service Tax (SST). However, many do not bother to really understand the mechanism,  instead prefer to listen to negative perspective group.  Since the enforcement of GST, there are few businessman who thought that they can take advantage of the public ignorance. The companies which did not register with Customs Department are not allowed to collect GST from their customers.  The companies that are entitled to charge GST to their customers must put their GST ID No on the bill and this ID No is in the Customs database.  Consumers can check the ID No of the companies with Customs Dept to verify. The Government put a hefty penalty to the non eligible companies if they are found trying to cheat the consumers.  Understand the mechanism and we will be fine. 

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