GST To Be Zero-Rated From June 1st

The Goods and Services Tax (GST) will be zero-rated come June 1st.

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According to a statement announced by the Finance Ministry, the change will go into effect nationwide and will remain until further notice.

Items which are GST-exempted will not be zero-rated.

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“As such, all registered traders should abide by the zero-rating directive.

“At the same time, registered traders are also subjected to all current regulations, among which involve the issuance of tax invoices, submission of tax returns within the specified period and input tax credit claims.The ministry also said,“Traders must also ensure that the prices of goods and services set are in accordance with the Price Control and Anti-Profiteering Act 2011.”

For further enquiries, contact the Customs Department at 1 300 88 8500 or 03-78067200 (Customs Call Centre).

Source: NST 

 

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