Hi there, I would like to make it as brief as possible so I don't bore you with another story on GST :)
GST, the Good and Services Tax have already been implemented starting on 1st April 2015 replacing the current Sales and Services Tax about 10% and 6% respectively. It have been 2 weeks since GST was introduced to the Malaysians.
What is GST?
- Consumers should only be taxed at 6% rate; however businesses might take this advantage to hike up prices for their goods or services.
- Some of the goods that were taxed at 10% has been replaced with the new rate of GST at 6% hence we will pay lower.
- Some prices will go increase, decrease or stay as it is.
Here's a
video about GST for you
Here are the
rates for GST that have already been implemented starting on 1st April
How GST will
affect us as students.
- Prices will increase on majority of the technology from phones, laptops to computers due to the implementation of GST as it was not taxed beforehand.
- GIRLS. Prices of clothes will definitely go up so it is necessary try to spend less on clothing as well as lipsticks and nail polishes.
- Time to start eating in more and eating out less! On the bright side, fast food chains with delivery such as Dominos will still have free delivery and prices will stay the same or be even lower.
- Start bringing your own water bottle wherever you go to!
- Time to weigh in what the non-essentials are with the essentials of your everyday.
Here are the
comparison:
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