Abstract:

Goods and services tax (GST) is an important facet in each country. Presently, different GST model adopted by more than 160 countries in the world. Concept of these model are same but some variation between two country due to political and economy condition. India is latest country where Dual GST model adopted on 01 July 2017. There were number of taxes on same supply chain in pre- GST era. Journey of GST in Indian is a comprehensive landmark. There was fear among regulators and businessmen about GST mechanism. But after 5 years of its inception, it is a positive step toward Indian economy. Malaysia adopted GST model in 2015 and roll back in 2018. Malaysia is only country in the world where GST has been roll back and SST 2.0 has been introduced with some modification in earlier regime. Some economist believed that it was political reason. But truth is that new GST rates were lower that old indirect tax system. Also, some products have been exempted from GST which negative impact on economy. In this way, tax collection reduced during that period. This paper will emphasize, GST model in Malaysia and introduce of SST 2.0. Further paper will critical analysis about Indian GST model with Malaysian GST model. .

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