GST impact on palm oil

TRADITIONALLY, crude palm oil (CPO) has been subject to taxes. Come April 1, 2015, we will have the 6% goods and services tax (GST). What are your thoughts on this?

Tek: The palm oil industry is generally blessed with no GST exemption items across its supply chain. It is either zero-rated (especially for exports) or standard rated which will involve passing on the supply chain, claimable and subsequently refundable from the Customs Department. However, there will be a transitional phase in managing the changes at the initial stages including registering claims and getting the refunds.