GST or Goods and Services tax or Value Added Tax is a consumption based tax charged on all taxable supply of goods. There are a few “Zero Rated Supple” group of items is exempted from GST which includes
- Basic food items (flour,rice)
- Public Transportation
- Healthcare and education
GST ( Goods and Services Tax) is a value added tax that is based on multilevel tax based on consumption. GST will be replacing the current Government Sales and Service Tax from 1st of April, 2015. There will be a huge impact on businesses in Malaysia when GST is introduced.