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11 January 2014
GST - background
11 January 2014
GST - background
11 January 2014
Why GST ?
11 January 2014
GST in operation
11 January 2014
GST in operation 6%
RM 6 GST
Supplier
RM 100 + 6 = 106
RM 3 GST
Manufacturer
RM (9 - 6)
RM 150 + 9 = 159
RM 3 GST
Wholesaler
Kastam Malaysia
RM (12 - 9)
RM 200 + 12 = 212
Retailer
RM 6 GST
RM (18 - 12)
RM 300 + 18 = 318
Consumer
11 January 2014
GST
Scope
11 January 2014
GST Scope
11 January 2014
GST Scope
GST is charged on
taxable supply of goods & services
made by a taxable person
in the course of furtherance of business
in Malaysia
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GST Scope
10
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Supplies
&
Person
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Supply
12
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Meaning of Person
Company, club, association, society, cooperative, trade union, non profit body and
unincorporated body
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Meaning of Person
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Place of Supplies
In Malaysia
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Time of Supplies
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Value of Supply
Consideration in money
Value = Consideration in money - GST portion
GST portion = Consideration x 6/106
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Value of Supply
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Type of Supplies
Zero-rated supplies at 0%
- eligible to claim input tax credit on business inputs
Exempt supplies
- not eligible to claim input tax credit on business inputs
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Registration
of GST
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11 January 2014
Registration of GST
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Registration of GST
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Registration of GST
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Registration of GST
Voluntary registration
business below threshold may apply for
voluntary registration
once registered must remain in the system for
at least 2 years
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Registered Person
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Registered Person
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Registration of GST
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Payment of GST
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Payment of GST
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11 January 2014
TAX
Invoice
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Tax Invoice
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11 January 2014
Invoice date
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Invoice date
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11 January 2014
Q&A
Lee Hooi Seng
hslee@HSLeePtrs.com
012-339 2925
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11 January 2014
Thank You
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