Date post: | 03-Nov-2015 |
Category: |
Documents |
Upload: | astalavistaamerica |
View: | 14 times |
Download: | 0 times |
GST - High Level Overview
Consumer
Pay 0% GST
For UK supplier provide
service, charge us RM10K
+ (no GST) = RM10,000
-> we account output tax
RM600 and at the same time
we account input tax
For Local supplier provide
service, charge us RM10K
+GST 6% = RM10,600
-> we claim input tax.
Simplified tax invoice - if name and address of recipient
is not stated in the tax invoice :
Maximum amount allow to claim is RM500 or GST
amount is RM30.00 (i.e. GST 6% x RM500.00)
For more than RM500, no able to claim input GST tax
Special tax rate
C No 1 Declaration of imported goods
C 9 Permit to release dutiable goods
Registered GST Number
Applicable ONLY for Supplier
Invoice to PAPRDMY
NOT ALLOWED
[Blocked Input Tax]
INPUT TAX
(1) Tax Exempt Items - no Input
GST Tax & (2) Medical
Equipment - Input GST Tax
Those Company Car For Japanese/Expatriate to
drive are classified under Blocked Input Tax
RM500 rule is not applied.
If the deemed supply value
is RM100, we have to account
for GST 6% i.e. RM6
For GST suspended, we just declare the amount on the
reporting (there is field for it) outside.
This declare cannot be used to offset Output Tax.
Tax Return Form GST - 03
Page 1/3
Tax Return Form GST - 03
Page 2/3
Tax Return Form GST - 03
Page 3/3
GST - 03
Exempt Supplies
But
Thus,
END