1. GST may lower Malaysia's business costs because input tax paid can be claimed back. Previously these costs may be included in expenses and increase the cost of doing business. If your business costs have reduced, you have two choices. You can do nothing or make adjustments to your prices.
- Please note that if your business costs have been lowered due to GST, you are expected todo adjust your prices accordingly otherwise you could be charged under the Price Control and Anti-Profiteering Act 2011.
- If you do not reduce your prices, it does not mean your direct competitor will not. So you may start losing business to a competitor who has done his homework on GST.