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GST Changes: What do you need to know as a consumer?



In Budget 2022, the Minister for Finance announced that the GST rate will be increased from:

  • 7% to 8%, with effect from 1 Jan 2023; and

  • 8% to 9%, with effect from 1 Jan 2024.

As a consumer, the timing you purchase and fully pay for the goods and services is now very crucial. We wish to inform that Poh Meng Engineering will be charging GST as per the guidance below:


The GST rate chargeable will be the prevailing rate as at the date of invoice issued or the payment date (whichever is later).

Invoice Date or Payment Date

(whichever is later)

GST Applicable

​Before 1 Jan 2023

7%

Between 1 Jan to 31 Dec 2023

8%

On/after 1 Jan 2024

9%

Hence, to avoid paying higher GST, confirm your purchase so that we can issue sales invoice to you when you make the payment in full.

 

As a consumer, the timing you purchase and fully pay for the goods and services is now very crucial.

 

If you have been wanting to change a new set of air-conditioners or getting your air-conditioners cleaned, it's best you do so before 31 Dec 2022 😉 Contact us today or click the below button for a fast quote!


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