Mydin absorbs GST, prices remain the same
Many are worried over the implementation of Goods and Service Tax (GST), which starts from today onward.
However, Mydin unexpected approach would shock and please many as the hypermarket has decided to absorb the cost of GST to lessen the burden of the people - and this is no April’s Fool joke!
According to Mydin’s Managing Director Datuk Ameer Ali Mydin, the prices of goods in all branch of Mydin’s hypermarket and supermarket outlets will remain the same as GST will replace Mydin’s existing Sales and Service Tax (SST).
"We have discussed with 3,000 of Mydin's suppliers and 1,500 of them have agreed to absorb the GST cost,” he said as quoted by The Star. "The percentage of cost to be absorbed by them is yet to be determined. But, it will likely be between two to four per cent of the six per cent GST. A majority of the suppliers are locals."
In GST-related news, Amanz site has reported that any website using the Malaysian domain (.my) will also receive a 6 percent GST charge.
(Photo source: themalaysianinsider.com)