NUR ZAFIRAH BINTI ZAMRI 57275113627 NUR SAKINA BINTI ZAKARIA 57275113578 NUR SHAZLINA BINTI YUSOFF 57275113513 NUR HIDAYATUL AZIRA BINTI NOR AZMAN JLB 21803 CUSTOM,EXCISE AND FORWARDING BIL 14/1
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NUR ZAFIRAH BINTI ZAMRI 57275113627NUR SAKINA BINTI ZAKARIA 57275113578NUR SHAZLINA BINTI YUSOFF 57275113513NUR HIDAYATUL AZIRA BINTI NOR AZMAN 57275113649NUR FARHANA BINTI SAIDIN 57275113794
JLB 21803CUSTOM,EXCISE AND
FORWARDINGBIL 14/1
GSTGOODS & SERVICE
TAX
”In this regard, the Government proposes that the sales tax and service tax be abolished. These two taxes will be replaced by a single tax known as
the Goods and Service Tax (GST). I must stress that GST is not a new tax.” by Prime Minister Datuk Seri Najib Razak on excerpt of Budget 2014
The concept of GST was invented
by a French tax official in 1950s. Roughly 90 per
cent of the world’s population live in
countries with VAT and GST.
GST will effective on April 1st 2015 at rate 6% because before this Sales Tax (5%)
plus Service Tax (10%). VAT or GST now exists in 156
countries with different rate
GST CALCULATIO
N
GOOD EFFECT OF
GST
CONSUMERS
BUSINESSESGOVERNMENT
Tourist Refund Scheme
Reduce Cost of doing business
Transparent Pricing
Relieve Tax Burden of Consumer
Enhance ComplianceExport become
Competitive
ZERO RATED SUPPLY IN GST
Zero Rated Supply means no GST will be charges for the basic goods and
services.
List of Zero Rated and Supply > Agricultural products
> Essential foodstuff
> Livestock
> Eggs
> For first 200 units of electricity for
domestic use
> Water for domestic users, exported
goods and exported services
> International service
> Not be imposed on services provider
by the Government Services
The government should create a method or mechanism of collecting taxes • It will be subject to the manufacturers,
wholesalers and retailers without prejudice to the user because all the taxes that are applied when the majority is borne by the end user directly or indirectly.
The government needs to reduce unnecessary expenses, waste, leakage • Causes an increase in the cost of managing the
government as a cost-cutting government spending will cause the government needed revenue that is not too much to cover the costs inherent in administering.
• Indirectly it will reduce the tax burden that had to be collected from users.
Taxation of tobacco, alcohol and petroleum products
It has also recommended that tobacco, alcohol and emission fuels should be subjected to both GST and excise. Industrial fuels should be subject only to the
GST with full benefit of input tax credits.
The government needs to review the reasonableness of the rate of 6% as an initial rate of GST.• That the poor would feel overburdened with GST rate
that is too high. This was due, among people of different salary and for family expenses will be limited due to the GST rate is too high.
• it will give rise to a misunderstanding between the people and the government when the government imposes GST at the rate of 6%.
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