| Summary: | GST bill was tabled in the Parliament on December 2009 for the first reading. It was proposed that the GST rate of four percent to be implemented in mid or end 2014. GST once gazetted is a law which compels every business to collect GST from their respective customer, account for them, filing the returns and pay the government. However, exceptions are granted to businesses with a turnover of less than RM500,000. Understanding Goods and Services Tax in Malaysia aims to provide businesses, operating in Malaysia, with the prerequisite information about GST and its mechanism; hence enabling them to prepare, strategized and plan well. It is organized around eleven sections with GST bill in the appendix forming the foundation of the book. There is much more to be written about GST implementation and practical guides. We trust that your experience using this book together with our up and coming edition on Practical Guide to GST will help you to be well versed in the GST mechanism and implementation. With proper information, planning and preparation, there is no reason to doubt that you will succeed in having a smooth GST transition.
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