Advantages of GST

1. More transparent
 curb misappropriation and tax payment issues
 can’t evade tax because the businesses should reveal or display tax amount
 Wil reduce black money or corruption
 When they have to register they business with gst system it will ease the
income tax department to track each and every transaction of the commodity.

2. Business motivated to be part of the tax framework

 to register their business with the GST system in order to get their 6% claim.

3. Better price control

 with businesses along the supply chain accounted for authorities can keep a
closer watch on prices

4. Lessen tax evasion

 which benefit the government

5. No cascading and compounding index

 means a tax on tax
 Let’s say that a consumer has taken a service for company formation in
Malaysia for MYR 60,000, paying 15% service tax (i.e. 60,000*15% = 9,000).
He then purchases furniture and other assets for his office for MYR 30,000,
paying 5% sales tax (i.e. 30,000*5% = 1,500). His total outflow of tax would be
9,000+1,500 = 10,500. He paid MYR 9,000 as service tax without getting any
deduction of MYR 1,500 paid as sales tax.
 For example, when the media owner charges the agency 6% SST in their
invoice, the agency has to then add another 6% SST on that bill when
invoicing their clients. So if the original invoice is RM106 to the agency, the
agency will bill the client RM112.36 after adding another 6% SST. And this
amount can further leap by another 6% if it goes on to the next billing party.

6. Increasing the Threshold Limit for Registration

 In the previous tax structure, the companies that had a turnover over 5
hundred thousand were liable to pay tax. But under GST regime, this limit was
extended to 2 million, which served as a relief to many small businessmen
and also for the foreign people who are planning to set up a company in
Malaysia.
Conclusion
Everyone looking forward what benefits they can gain from GST while most of us forget
to see the challenges it’s go through. People are looking for the result because they are
facing problem regarding the increase in tax rate on some goods and services, return
filing, etc. These issues will be resolved in short span of time. GST is something ongoing
process, the system will keep modifying as per the situation. Before this, everyone tell
that it will be too early to comment or to see the fruitful colours of the GST. Yeah it’s
absolutely true but then now, it’s no more if you would like to see the truth, just
differentiating between SST and GST. Then you will get a clear picture of both system
and you will get know that GST is more efficient to our country.
https://www.thestar.com.my/business/business-news/2019/10/07/the-potential-return-of-gst
https://www.thestar.com.my/business/business-news/2019/10/04/experts-support-return-to-gst