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GST is a consumption tax covering all sectors of the economy i.e all Malaysian-made goods and services including imports and excludes specific goods and services categorised under zero rated supply and exempted supply orders as determined by the Minister of Finance and published in the Gazette.

GST, also known as VAT or Value Added Tax is levied on the supply of goods and services at each stage of the supply chain from the supplier up to the retail stage of the distribution. 

The proposed GST rate is 4%, lower than the rate of sales tax (5% and 10%) and service tax (5%) imposed at present.

Source : http://gst.customs.gov.my/ 

 

Last Updated: Thursday, 12 September 2019 - 12:14pm