Monday, July 27, 2015

Four Months After GST Implementation


As at now, most of us in Malaysia are getting used to GST implementation. We know how to read the price tags and official receipts. Those who works in Account Department or Finance Department should at least know how to key in input and output tax into accounting system and also to file the GST returns. 

There are also less and less complaints on GST impact in loca news. It seems like the rakyat are slowly getting used to the GST implementation. 

But, one thing for sure, the rakyat really feel the pinch of price hike. One specific of honey from Australia was priced at RM31.90 before GST implementation. But when I purchased the same honey in Apr'15, it was RM36.90. Last year, a ream of a branded paper cost RM9.50. Today, the same ream of branded paper at the same stationary store cost RM11.13 (RM10.50 + 6% GST). A specific brand of facial toner cost me RM38 in early 2014, then RM42 toward the end of 2014. In Apr 2015, the same facial toner cost me RM55! I am not sure if the price hike was caused by the dropped in Ringgit value or because the supplier been charged higher by the producer due to high demand. No matter what, the huge price different after GST implementation is really unacceptable to me.


I noticed that everyone now are more concern on their purchase, be it at the kopitiam, wet market, the supermarket or at stationary stores. Everyone trying to get the best deal and trying to stretch their ringgit further. This is a domino game. When everyone trying to hold back from spending, economy will be affected. In the long run, let's hope that the GST implementation brings us more good than harm.



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