I have little issues with GST, until recently. GST taken as it is, will do wonders for the nation. We as the “rakyat”, it is our responsibility to pay GST (Goods and Services Tax) and make sure that it is use for GST (Grow & Share Together).
It was made very clear to all of us, we pay 6% GST. Even though I am not 100% supportive of the mechanism of paying and claiming back of GST, I give the benefit of the doubt to the “system” used will be fair.
However, this “small” issue crept into my life lately :
The GST Debit for my Giro transaction is ROUNDED UP to One Cent. No big deal, for most people.
It is a BIG deal to me, because of two reasons:
1) GST is clearly stated as 6%. By ROUNDING UP to “only” One Cent, the GST is now 10%! (So we blame ROUNDING UP, for this matter?).
2) Assuming there are five million “rakyat” that uses this GIRO services. On average, in a month, they will use five times. Now, try to figure out the calculation:
5,000,000 x .004 cents x 5 = Only RM 100,000 per month.
Well not much to some of us, but surely is a big figure to most of us. Just to make it more intriguing, it is ONLY RM 1.2 Million for a year…… Some questions comes to my mind:
1) Who gets this amount every year?
2) Is this legal?
3) Shall we prosecute and jail “Rounding Up”?
I dare you to COMMENT.