In general, total GST (or known as Goods & Service Tax) amount is paid by the taxable
parties or individuals, of which it effectively paid across the value chain,
through GST input credits and so on; businesses should not be affected directly
by price increases due to any additional cost or GST.
In brief, the added cost through the
implementation process of GST will be due to the administration of GST input.
Because of this, businesses with an annual turnover of less than RM500,000 are
exempted from being GST taxation, hence such business is not eligible to
collect or pay GST.
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About GE Consult
Founded
since 2003, GE Consult has helped numerous local SMEs/SMIs in
developing their company profiles, business plans, business proposals
etc. assisted clients in securing business deals and contracts. If you
are looking for a winning company profile or any professional services,
please do not hesitate to contact us at (+6017) 330 8077 and/or email
rachel@geconsult.org for further service explanation.
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