Home Budgeting Economy 5 Things you can save on post-implementation of GST

5 Things you can save on post-implementation of GST

A month has already passed since the GST or the Goods and Services Tax has been implemented on April 1st, Indians are gradually feeling the effect of the general price increase throughout the country. While many have already started going on a pre-GST shopping spree with the thought of paying a much less amount, some others are left pondering over the fact that they’re missing out on such offers. However, the only good news after the implementation of GST is that few businesses have taken the decision of absorbing the costs and not passing the burden of GST to their customers. So here are few things on which you can save money post-GST implementation.

#1: Eating out in hotels and restaurants

Many have resorted to cooking at home for compensating for the increase in prices for eating out. The people of Malaysia can rest assured that few famous restaurant chains have decided to reduce the burden on their customers by maintaining or lowering their prices. Food chains like McDonald’s, KFC, and Dominos Pizza have decided to absorb the GST and they are doing so without adversely hurting their business. So, you can still save money by eating out.

#2: Beauty and Fashion

For fashion-conscious people, there isn’t any worry about not being able to maintain the latest trends. Zalora, a fashion retailer online announced that they will absorb the GST rates on all items. Zalora is a Malaysian brand that has not only decided not to hike its prices by the 6% GST levels but they have also decided to apply a 6% discount on all customers, thereby even lowering the prices by 5% as compared to pre-GST prices.

#3: Cars

Are you looking forward to buying cars? If yes, then both foreign and local makes have decided to absorb GST rates. Perodua will reduce the prices of their vehicles between 0.1% and 1.6% depending on different models. Volkswagen has even updated its prices on all variants and models, thereby maintaining its net selling prices. However, the insurance will definitely be subject to its own 6% GST.

#4: Tech gadgets

Technology geeks may rejoice when they get to know that they can continue to get their latest in electronic gadgets. Oppo is a smartphone maker which manufactures really awesome devices like the R5 and N3 and they have committed to absorbing GST their gadgets and this translated to a 0% increase in the retail price of the phone. Hence, you can still buy your gadgets at their best prices.

#5: Wholesalers and General Retail

There are still places to cater for families who are looking to shop for few essential items or for those who are hunting for good deals to satisfy their needs for impulsive shopping. With a whole range of items like electronics, hardware, household, textiles, and foods that are available, families feel safe to know that they can still get their essentials without having to pay extra.

Therefore, if you’ve been worried about the extra payments that you have to pay on various things post-GST-implementation, consider the above-mentioned points.

Image source: https://usercontent2.hubstatic.com/13608989.jpg

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