Sst Is Better Than Gst

Well it goes down to enforcement. Goods and services tax gst gst covers everyone retailers and trades. Gst s broad tax base not only results in higher collection it also increases transparency and mitigates leakage thanks to its fixed standard rate after all gst is widely implemented in many countries around the world and is lauded as a modern consumption tax compared to sst.

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As you can see the table clearly shows that gst is the cheaper option and astro awani in their comparison also said that gst is in fact the more transparent tax of the two.

Sst is better than gst. Sst features the cascading and compounding index in its system while gst has eliminated it. Both tax systems have their pros and cons. Sst rates are less transparent than the gst which had a standard 6 rate the sst rates vary from 6 or 10. The imposition of service charge is not governed by any law and it is entirely at the discretion of the f b operators.

Sst is a narrow based taxation system while gst is a broad taxation system. Sst doesn t have relief for export while in gst the exports are zero rated whereas they are eligible to claim the input tax. Subscribe for more newsflash. The gst vs sst comparison based on cost.

The supply chain moving from manufacturers to distributors dealers and to consumers would result in higher pricing as gst is imposed on final stage comprising of value add and profit margin. The goods and services tax gst is better than the sales and services tax sst as gst collection is more than the latter which benefits the government businesses and the rakyat as a whole said economists. The sales tax is only levied on the level of the producer or manufacturer while the service tax is imposed on all customers who use tax services. Sst is a business cost.

If gst is better why was prices more expensive. By farah adilla may 2 2018 4 35pm. Gst is operating on a value added concept with input tax available as deduction. Gst better than sst say experts.

In conclusion we all now know that the sst 10 for sales. Sst is people friendly as the daily consumption of food and beverages would be much lower in price as compared to the gst regime. Sales and services tax sst the sales tax is only imposed on the manufacturer level the service tax is imposed on consumers that are using tax services. The sst has a smaller range of taxable items in comparison to the gst which was a wider range meaning that basically all goods and services are chargeable based on gst unless its items are exempted ie.

Another million dollar question. I asked an accountant handling gst and sst and she confirmed with me the table provided by malaysiakini above is correct. The sst rates are less transparent than the standard 6 gst the sst rates vary between 6 and 10. And 6 for services and gst standard rate of 6 are forms of a consumption tax in which sst is a single stage tax while the gst is a multi stage tax.

Here s a simple breakdown of malaysia s goods services tax and the upcoming sales services tax. A tale of two tax systems powerful enough to sway an election.