{"id":5563,"date":"2014-06-08T23:02:40","date_gmt":"2014-06-08T15:02:40","guid":{"rendered":"http:\/\/www.nbc.com.my\/blog\/?p=5563"},"modified":"2015-02-03T08:15:11","modified_gmt":"2015-02-03T00:15:11","slug":"gst-government-tax-everything-everyone","status":"publish","type":"post","link":"https:\/\/www.nbc.com.my\/blog\/gst-government-tax-everything-everyone\/","title":{"rendered":"GST: Government Tax on Everything &#038; Everyone"},"content":{"rendered":"<p>Will Goods &amp; Services Tax (GST) affect everyone? Yes, GST will affect almost EVERYONE in Malaysia, including those staying in the rural area or in the kampung.<\/p>\n<p>Everyone include adults, kids, companies &amp; businesses (sole proprietor &amp; partnership). Kids will find out their daddy is buying\u00a0less toys next year.<\/p>\n<p>We all know that GST is a consumption tax, and ultimately individual will be the one who pay the GST, for things that they bought. Those things are as follows:<!--more--><\/p>\n<ul>\n<li>petrol &amp; parking<img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-5573\" title=\"Goods and Services Tax (GST) in Malaysia\" src=\"https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2014\/06\/Goods-and-Services-Tax-GST-in-Malaysia.png\" alt=\"Goods and Services Tax (GST) in Malaysia\" width=\"250\" height=\"198\" srcset=\"https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2014\/06\/Goods-and-Services-Tax-GST-in-Malaysia.png 290w, https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2014\/06\/Goods-and-Services-Tax-GST-in-Malaysia-105x83.png 105w, https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2014\/06\/Goods-and-Services-Tax-GST-in-Malaysia-126x100.png 126w, https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2014\/06\/Goods-and-Services-Tax-GST-in-Malaysia-24x19.png 24w, https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2014\/06\/Goods-and-Services-Tax-GST-in-Malaysia-36x28.png 36w, https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2014\/06\/Goods-and-Services-Tax-GST-in-Malaysia-48x38.png 48w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/><\/li>\n<li>telephone bill<\/li>\n<li>broadband &amp; mobile internet bill<\/li>\n<li>electricity bill (if you have air-cond installed at home)<\/li>\n<li>stationery<\/li>\n<li>clothes<\/li>\n<li>foods at restaurants<\/li>\n<li>toys<\/li>\n<li>___________ (please fill in yourself for what you are going to buy)<\/li>\n<\/ul>\n<hr \/>\n<p>Basically, there will be 2 groups of companies in GST Era:<\/p>\n<ol>\n<li>Group A: Companies sell things &amp; charge 6% GST<\/li>\n<li>Group B: Companies sell things but DO NOT\u00a0charge 6% GST<\/li>\n<\/ol>\n<p>I guess\u00a0you are happy to know at least some shops\u00a0not charging you GST then.<\/p>\n<p>That&#8217;s wrong perception!<\/p>\n<p>Once you find out\u00a0how it works then you will know in fact you are paying GST for EVERYTHING!<\/p>\n<hr \/>\n<p>You must first know how those companies work in GST system.<\/p>\n<p>Forget about Group A companies as they are charging you 6% GST anyway.<\/p>\n<p>The companies in\u00a0Group B are as follows:<\/p>\n<ol>\n<li>Their yearly sales not exceeded RM500,000 (means these are small companies)<\/li>\n<li>Hospital<\/li>\n<li>Private schools &amp; colleges<\/li>\n<li>Childcare centre<\/li>\n<li>Public transports (train\/LRT\/MRT\/Monorail\/taxi\/bus)<\/li>\n<li>Bank services<\/li>\n<li>others (toll operators\/funeral\/residential land &amp; building)<\/li>\n<\/ol>\n<p>Companies in Group B\u00a0will pay GST for some expenses when they are running their business.<\/p>\n<p><strong>Problems are they can&#8217;t claim GST refund from Government, and worse still, they can&#8217;t charge you GST.<\/strong><\/p>\n<p>GST they paid has become their cost of business and NO companies will absorb those costs. They&#8217;ll have no choice but to\u00a0increase their selling price to maintain their profit\/margin!<\/p>\n<h2><span style=\"color: #ff0000;\"><strong>Now Everyone Pays GST!<\/strong><\/span><\/h2>\n<hr \/>\n<p>&nbsp;<\/p>\n<h3>Look at how the accounts of those companies look like:<\/h3>\n<p><a href=\"http:\/\/www.nbc.com.my\/gst\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5576 \" src=\"https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2014\/06\/NBC-Government-Tax-on-Everything.png\" alt=\"NBC-Government Tax on Everything\" width=\"643\" height=\"514\" \/><\/a><\/p>\n<hr \/>\n<p>Note 1: It is acceptable in law to increase price as long as the increase in price are in tandem with the increase in cost of doing business!<\/p>\n<p>Note 2: I am trying to use words as simple as possible to let everyone know what is GST. Hope you enjoy reading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Will Goods &amp; Services Tax (GST) affect everyone? Yes, GST will affect almost EVERYONE in Malaysia, including those staying in the rural area or in the kampung. Everyone include adults, kids, companies &amp; businesses (sole proprietor &amp; partnership). Kids will find out their daddy is buying\u00a0less toys next year. We all know that GST is [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":6076,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[16,95,18],"class_list":["post-5563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-goods-and-services-tax-gst","tag-goods-and-services-tax","tag-gst","tag-gst-implementation"],"_links":{"self":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts\/5563"}],"collection":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/comments?post=5563"}],"version-history":[{"count":0,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts\/5563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/media\/6076"}],"wp:attachment":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/media?parent=5563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/categories?post=5563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/tags?post=5563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}