Thursday, April 2, 2015

Talk of the Town

Early yesterday morning we went for breakfast at our neighbourhood coffee shop and lo and behold, we were given the receipt below when we ordered a small cup of hot cham (coffee mixed with tea). It used to be MYR1.50 but now it is MYR1.60 and you can see the breakdown below.


I have a few questions about the breakdown - who will absorb the 2 cents adjusted amount? For this receipt, will 9 cents be paid to the Customs  or is it 7 cents after deducting the 2 cents adjustment? 

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40 comments:

  1. MerrynApril 2, 2015 at 1:27 AM

    I have no idea. I am such a blur when it comes to GST :(

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    Replies
    1. munApril 3, 2015 at 12:06 AM

      At least you are doing something - doing tutoring again to meet the GST.

      Delete
  2. LotusApril 2, 2015 at 1:34 AM

    Watched the news just now, it says the public is still quite confused about the GST, what products will charge GST and what products do not charge GST

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    1. munApril 3, 2015 at 12:07 AM

      Some say no need to understand, just pay.

      Delete
  3. suituapuiApril 2, 2015 at 5:31 AM

    Never mind. Even if no GST, bet the prices of everything will go up a bit - they will say they will need the money to buy those stuff with GST. The money is in our hands, we have the power. If we are not happy, we have the choice not to buy/eat/drink. I am going to stay home more...because I find that if I go out, I tend to spend...often, unnecessarily. Must learn to be more prudent, avoid expensive high-end places etc...etc...etc... Live simple, and happy.

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    1. suituapuiApril 2, 2015 at 5:40 AM

      Same with the banks, I hear. GIRO online transfer GST 6% = 6 sen, round up to 10 sen so total charge is actually 10%. If GST had been 3 or 4%, I am sure they will not round it up so happily... Obviously, there is a reason...why it is 6%.

      Delete
    2. munApril 3, 2015 at 12:09 AM

      You are those who can tighten belt. Many cannot.

      Delete
    3. munApril 3, 2015 at 12:10 AM

      This GST does not follow the 5cents round up an round down rule?

      Delete
  4. Princess RibbonApril 2, 2015 at 6:14 AM

    To be honest, I'm not sure too, but if I have to guess, I think 7cents will be paid to customs.. Errr one cup of beverage cost RM1.53? Guess they already increase the price to make it to be able to round up to the 6%. With or without gst, prices already up..

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    Replies
    1. munApril 3, 2015 at 12:13 AM

      I calculated, if it costs 1.50, the GST is still the same 0.09 cents so why need to be 1.53?

      Delete
  5. Rose worldApril 2, 2015 at 6:35 AM

    I watched the news that every receipts must have the GST registered number otherwise the outlet has not registered for GST.

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  6. RealGunnersApril 2, 2015 at 8:59 AM

    Your guess is as good as mine. I hope someone who knows how this round up thing works would comment here.

    ReplyDelete
  7. [SK]April 2, 2015 at 9:01 AM

    I see they have a GST registration number, meaning they are legitimate to collect the GST from customers..

    but the cents rounding thing isn't a new thing right?? with some rounding up and some rounding down, I guess in the end they probably contra, and this may have been reported when they file the account and tax?? my guess, any accountants??

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    1. munApril 3, 2015 at 1:11 AM

      Phong Hong is an accountant and she said must pay the full 9 cents to customs.

      Delete
  8. Yee LingApril 2, 2015 at 9:19 AM

    Yea....it has been a heat topic. Everyone still having lots of queries even my work too.

    ReplyDelete
  9. Twilight ManApril 2, 2015 at 9:27 AM

    I see many business establishment absorbing the costs. Even the gaming and funeral parlors absorbed the 6%. Zalora gave 6% discount yesterday.

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    Replies
    1. munApril 3, 2015 at 1:16 AM

      How come you know about funeral parlors charges after GST?

      Delete
  10. The Yum ListApril 2, 2015 at 11:32 AM

    Good questions. Seems it will take some time to figure out.

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    Replies
    1. munApril 3, 2015 at 1:16 AM

      I think those who need to submit to customs know about this.

      Delete
  11. PHApril 2, 2015 at 12:05 PM

    It should be 9 cents paid to the customs as the GST paid is 6% of the goods sold and must tie to the invoice.

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    1. munApril 3, 2015 at 1:18 AM

      No rounding for the figures? No round up or round down like the 5 cents rule?

      Delete
  12. UnknownApril 2, 2015 at 12:50 PM

    Wow...I wonder how long will it b 6%

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  13. StacyApril 2, 2015 at 2:18 PM

    9 cents need to be paid to Customs. Rounding is absorbed by the shop.

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    1. munApril 3, 2015 at 1:19 AM

      So for Customs, no rounding up or down? What about the final sum figure? If got cents that is not 5 cents or 10 cents, also no need to round up or down? No more 1 cent so how?

      Delete
    2. StacyApril 3, 2015 at 6:09 PM

      You see the line marked GST 6%? That's the amount to be remitted to Customs. Actually they will accumulate all such receipts at month/quarter end and offset against total input tax to compute amount payable/receivable from Customs. Any rounding will only occur at that stage.

      Delete
    3. munApril 3, 2015 at 11:13 PM

      Thanks Stacy for explaining this.

      Delete
  14. contact.ewewApril 2, 2015 at 2:46 PM

    Why is the cup of cham priced at RM1.53 to start with? So to be able to round up to RM1.60?

    ReplyDelete
    Replies
    1. munApril 3, 2015 at 1:20 AM

      If MYR1.50 also can round up to MYR1.60 so I have the same question too.

      Delete
  15. ReanaclaireApril 2, 2015 at 3:06 PM

    Yeah.. why a cup of coffee is 1.53 instead of 1.50? hhmmm... .

    ReplyDelete
  16. Small KucingApril 2, 2015 at 4:34 PM

    still a lot of things to be smoothen out

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  17. Nancy ChanApril 2, 2015 at 11:25 PM

    Frankly I am still confused and blur....but looks like all prices are up, up & up!

    ReplyDelete
  18. wennApril 3, 2015 at 12:26 AM

    6% tax needs to be submitted. Rounding up and down will contra itself.

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    Replies
    1. munApril 3, 2015 at 1:24 AM

      What if the final sum to be submitted to Customs still has the odd 1 cent which is not 5 cents or 10 cents?

      Delete

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