No GST and free shipping
Our beloved Prime Minister - Tun M has zero rated GST from 1st June onwards. We are now in the midst of adjusting the prices DOWNwards. On top of that, we are now offering FREE shipping for t-shirts purchase 3pcs or more.
This GST thing has really been a pain in the ass for us. Prices crept up for the following reasons.
- The end user is taxed the full 6%, everyone in the supply chain is taxed. This is alot, given that 50% of the Malaysian population don't earn above RM1500.
- Which means the end user has less money in their pockets to spend. This is bad new for businesses.
- The compliance requirements is very strict. If your invoice is missing an address, you are subject to penalties.
- Prompt payment to KASTAM is a must! If you are late GST payment to KASTAM, even by 1 day, you get an autogenerated penalty letter, which you must make payment first.
- Our cost to account for all these went up.
We still think that GST is a fair tax, but the implementation of it simply burdens the people and the economy. We can see the effect in our books. Cost went up, sales went down. There is less desire to invest.
Hopefully, with the sparkling new leadership, things will turn for the better.