From 10% to 6%
The nation is apprehensive over forthcoming 1st April. What is so particular about Goods Services Tax? Is it for all? No. The majority goods sales tax will be greater than before, some don’t and even certain don’t revolutionize at all.
“I hope Goods Services Tax ‘s implementation on 1st April would be a hallucination,” cried Mr.Valluvan. At the similar point in time, “Goods Services Tax is not new-fangled. It has been accepted for an elongated moment in time,” smiled Mr.Guna. Indians, please don’t worry. Here is the some information for you. Japan’s Goods Services Tax is 5%, Thailand and Singapore’s Goods Services Tax is 7%, Australia and Indonesia’s Goods Services Tax is 10%, Philippine’s Goods Services Tax is 12 %, China’s Goods Services Tax is 17 % and United Kingdom’s Goods Services Tax is 20%. If compared to this, Malaysia’s Goods Services Tax is less significant.
Rice is imperative in human being’s life. Apart from it, essential foods as chicken, mutton, fish, eggs, ikan bilis, bread, fresh vegetables, fruits, coconut oil, peanut cooking oil, palm oil and infant formula as well as for petrol RON95, diesel, toll and public transport don’t have any Goods Services Tax. Non-essentials foods as tomato sauce, chili sauce, oyster sauce, cup noodles, tempe, cheese, margarine, quail egg, corn oil, biscuit, donut and croissant chocolate will be subjected to the standard 6% of Goods Services Tax. This statement assumed by Customs Department Director Datuk Subramaniam Thulasi. In addition, Datuk Haji Ahman Azlan posts these particulars at his twitter account.
Following this, kitchen appliances as refrigerator, toaster and gas cooker’s goods sales tax diminish. Household appliances including television, air-conditioner, electric fan, washing machine and hair dryer’s Goods Services Tax also decline. Moreover, home theater system, baby diapers, spark plug, brake pad and car battery’s Goods Services Tax dwindle. There is good news in town. Vehicles are likely to be slightly cheaper than before. Previously, vehicle’s Goods Services Tax was 10% and now it decreased by 4%. Customs director-general Datuk Seri Khazali Ahmad said there had been doubt as to whether vehicle prices would go up or down. This arose from confusion among car dealers about they would dispose of vehicles for which they had already paid 10% vehicle sales tax. “The Customs will imburse the dealers the 10% tax once they produce documented proof that they have paid the tax but had yet to sell vehicle as of March 31st,” said Customs director-general Datuk Seri Khazali Ahmad.
On the other hand, that means bits and pieces that have been tax-free all these despite the fact that will more exclusive for consumers after being subjected to the 6% Goods Services Tax. This includes computers, laptops, iPads, mobile phones, men’s watches and cosmetics including lipstick and nail polish. A citizen’s contractual obligation is to compensate tax to the nation. By paying tax, it lends a hand toward economic growth of the nation. GST is going to implement from 1st April 2015. As a citizen of Malaysia need to pay with or without fulfill heart.