GST is an acronym for Goods and Services Tax.
The GST is a broad-based pro-active tax of 6% on the supply of most goods, services and anything else consumed in Malaysia. Since Goods and Services Tax was introduced in 2014, thousands of Malaysians have to calculate the amount of GST to add to the price of goods or services or calculate how much GST is included in the price to claim tax credits for any GST included in the price of goods, services or anything else acquired for use in carrying on the business.
Adding 6% to the price is relatively easy, which we usually multiply by the amount by 1.06. However, if it’s not every single item is taxed, the situation would become sophisticated. Sometimes, the numbers are not pretty enough, to include GST into the result are certainly tricky.
We go shopping for groceries, there are many taxed and non-taxed goods on the list. such as chicken (0%), soft drinks (6%), onions (0%), coffee powder (0%), coffee 3 in 1 (6%), instant noodle (6%), normal noodle (0%).
As above case, if you are using conventional calculator, you are required to multiply 1.06 on each taxed item, and omit those are not taxed to get the accurate result.
Therefore, we would like to introduce you to this GST calculator on your Android mobile devices.