The Ministry of Finance has announced in Budget 2022 that the Goods &Services Tax (GST) rate will be ncreased from:
i. 7% to 8% with effect from 1 January 2023; and
ii. 8% to 9% with effect from 1 Jnauary 2024
Please be advised that the centralised cooling system (CCS) price stated in your contract is before GST, hence the applicable GST rate will be applied upon payment.