Bro, GST does not work "layer on layer". It tax only once at the output point only Ie. the ultimate consumer gets to pay GST.

Those GST at various input points before the final consumer consumes it are all claimable from the Customs. In your example of fisherman, all those middle man, supermarket and everyone in between, although they pay GST, but they can claim back from the Customs. Hence there is zero cost effect on supplier, manufacturer and business, so they have no reason to hike price. It is only the eventual consumer who pay GST to the Customs.

You got to study how GST works before firing away lah

BTW, I think essential food like fish, and petrol are zero-rated, so no GST is charged

Too bad those tok down the market hav bot enuf to pocket handsome profit. Onli 47% blif in ddd imho. Luckily stil hav 53% listen to xxx. my guess onli.

petroleum fuels shld be standard rate and not zero rated.

I audited kmn act b4 i think gas. petrol is already in bahan api tax rate. so should be zero.

Our mia or Malaysia institute of taxation really take boleh pakai. they should come out and explain gst to public. but so far no one articler.

See we have people like kitty take advantages.

Developer only indirectly bill Gst on uncontrollable building materials. how many times need accountant like me to tell u?

You may refer to excise duty which is currently suspended as it is in subsidy mode due to high crude prices. GST is a different tax regime that is multi stage in the production and supply chain.

I always have difficulties to determine which goods and services are GST taxable and which are not. Do you have link which itemise it ?

Althoug. i retired already. but i am jv bahan api buz now. so i think i am right.

You cld refer to the GST guides in gst.customs.gov.my. O
less than 20 guides currently in the GST portal and eventually will be around 80guides for different schemes and industries.

You may mixed up excise sales tax and GST...time will tell and confirm if fuels for local use is standard rate or zero rated.

It pointless because the gst tax exemption for goods have not finalise yet.

In normal circumstance essential item rice, vege is not gst-ed.

Car already got sales tax if got gst somemore the price will be too expensive and it would hurt local car dealer, so it depends how the government want to implement it.

But really if insurance also need to paid gst I will , cause only income- poor people need to buy insurance, why tax the poor.

Existing sales tax(10%) and service tax(6%) will be discontinued when GST is introduced. So sales tax for cars will be gone and replaced by GST of lower rate. So car price shld be lower in GST environment.

[quote=The Jedi,May 21 2013, 11:25 PM]
You may mixed up excise sales tax and GST...time will tell and confirm if fuels for local use is standard rate or zero rated.



Agree time will tell.

If standard rate apply how will industry claim back from it output? Remember own consumption apply as well.

Deduct own use is one way. but it will be messy.

That also why i say it will be zero.

Even if not charge 7% at every level, cost of living will still go up.
The fisherman, the middle man, the fish monger, and chef each have to pay more for goods that they and family use personally (motor, car, appliances, medicine, daily necessities, etc., because of GST) in their daily lives. So each will add cost to the fish indirectly and the end user has to pay more on top of the proposed GST. Does that make sense?

Don't forget other tax like carbon tax could be added.

[quote=tikaram,May 21 2013, 10:42 PM]
[quote=The Jedi,May 21 2013, 11:25 PM]
You may mixed up excise sales tax and GST...time will tell and confirm if fuels for local use is standard rate or zero rated.

Agree time will tell.

If standard rate apply how will industry claim back from it output? Remember own consumption apply as well.

Deduct own use is one way. but it will be messy.

That also why i say it will be zero.

[/quote]
Industry just a collecting agent in GST world. Output tax will be collected and offset against GST input tax. Own consumption of fuels is not a taxable supplies and GST is not accounted.

Noted majority still has a incomplete perception and understanding about GST here and this will take time for the public to understand. In developed countries, the public education will take years and best to implement GST when economy is fluorishing and political is stable... unfortunately these two key factors are lacking in bolehland now

Carbon tax is not applicable in Msia... Still long long way to go and even many OECD countries also yet to apply this tax

Your understanding of GST is flawed. GST is incurred at each stage of value chain and it is pass through tax and in general not expenses or cost item to the business. The final end stage of value chain, the end customer, is liable to pay the GST. This is the fundamental concept of GST and it has been apply in 150 countries. In Asia, only MSIA, HK and Brunei yet to implement GST.

The govt projects that they will increase annual revenue by RM27billion via GST. That means on average, every man, woman and child in this country contribute almost RM1000 each per year. Of course some contribute more, but this is on average. Is this a reasonable estimate?

Minister made a mistake here... GST at 7% collected shld b 27b and not additional. Current SST collected abt 17b. To ease the burden of end consumers especially the poor, govt shld reduce salary tax and corporate tax plus use some of the collected to fund BR1M to help the targeted poor that lives below the poverty threshold