GST Explained [Infographic]
It’s been a day since the implementation of the Goods & Services Tax (GST), and we’ve seen many netizens sharing their receipts and bills on Facebook and other social media platforms. Most of these posts show the confusion that most of us still have over this new tax system that has replaced the Sales & Services Tax.
With accusations thrown at some merchants, like what happened to Mydin. Mydin started a Harga Tak Naik (no price hike) campaign, where the company stated that the prices of their goods would not increase in price, and that it would absorb the 6% GST. However, as a GST registered company, it is required by law to include the 6% GST in the receipts.
The lack of understanding has created a lot of rumours and misunderstandings, and this in turn can make the consumers vulnerable to opportunistic merchants. To protect yourself, you need to understand how GST works.