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No more RM50 credit card fee with GST, updated 23/3/2015
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SUSDavid83
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Jan 12 2015, 10:48 PM
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QUOTE(max_cjs0101 @ Jan 12 2015, 10:46 PM) Im saying what if im paying for a service which has a 6% GST and im using my card. Will i need to pay another 6% on top of my bill because im using the card? The final amount has included the 6% GST from the merchant. You won't be charged for another 6% GST by the bank. This will incur double taxing error. GST on GST.
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SUSDavid83
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Jan 12 2015, 10:50 PM
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QUOTE(WhatIwillDo @ Jan 12 2015, 10:49 PM) 6% GST will instead apply on credit card annual fees – which can range RM70 annually to over RM1,000, depending on the type of card. can anyone explain this in a way that every one understands thx Annual fee will have GST - as simple as that.
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SUSDavid83
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Jan 12 2015, 10:53 PM
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QUOTE(max_cjs0101 @ Jan 12 2015, 10:50 PM) If that's the case, why did the article say this " full dispute amount will be refunded – including the GST charged by the merchant" Shouldnt it be just "full amount"? It means that if you have filed a dispute for an entry. That entry has been charged with GST included (RM X). If dispute successful and you're to be refunded, you should be refunded with the full amount with GST has been charged earlier (RM X and not RM X - GST).
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SUSDavid83
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Jan 12 2015, 10:54 PM
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QUOTE(Elgore @ Jan 12 2015, 10:50 PM) which can range RM70 annually to over RM1,000, depending on the type of card.  Depends on your card and card level, annual fee can range from RM 70 to RM 1000!
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SUSDavid83
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Jan 12 2015, 10:56 PM
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Also one should note that whatever fee that the bank charges will attract GST:
1. Late payment fee 2. Early settlement fee for installment plan/balance transfer if applicable 3. Cash advance fee 4. Annual fee 5. Annual management fee (for Islamic cards) 6. AOB
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SUSDavid83
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Jan 12 2015, 10:57 PM
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QUOTE(CoffeeDude @ Jan 12 2015, 10:56 PM) If you apply now you still need to pay the RM50 govt tax Some bank will still offer GST rebate campaign! Happy scouting! This post has been edited by David83: Jan 12 2015, 10:57 PM
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SUSDavid83
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Jan 12 2015, 10:58 PM
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QUOTE(apj8188 @ Jan 12 2015, 10:57 PM) Langsung tak paham  After first april, all items or service purchase will kena gst. So, for card approved before 1st April, just continue to pay items purchased gst + 50 for the card's tax. Card after 1at april, pay items purchased gst + 6% of annual fee as gst. Then better cancel all the card with annual fee less than 850ringgit before april and re-apply after 1st april. You're so confused. The article is only mentioning about credit GST. Nothing related to items you purchased. Whatever you purchased has nothing to do with the bank. GST calculation for the final amount to be swiped and charged to your card has nothing to do with the bank. This post has been edited by David83: Jan 12 2015, 11:00 PM
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SUSDavid83
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Jan 12 2015, 11:00 PM
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QUOTE(aromachong @ Jan 12 2015, 10:59 PM) so credit card statement RM10,000 + 6% end up we need to pay rm10600? Not related. QUOTE(ryanlaw86 @ Jan 12 2015, 10:59 PM) before we go waving our hands 6% on what ?? if total amount spend then this is shit big time Not related. This post has been edited by David83: Jan 12 2015, 11:01 PM
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SUSDavid83
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Jan 12 2015, 11:37 PM
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QUOTE(VinluV @ Jan 12 2015, 11:35 PM) Just got statement from my bank literally telling that gst will be charged for everything. No mention how it will be charged tho I think they meant all fees and charges will attract GST. Now on the product you swiped for as those will be taken care by the merchant.
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