Malaysia’s GST 2015

GST 2015 Malaysia - Summary of All Sections

POST GAZETTE GST AWARENESS

Goods and Service Tax (“GST”) is governed by the Royal Malaysian Customs Department, and it is a replacement of the current Sales Tax and Service Tax. GST is a consumption tax, which means the more you consume, the more GST you need to pay.
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What is GST, Who Must Register, Taxable Period & Payment Timing

Goods and Service Tax (“GST”) is governed by the Royal Malaysian Customs Department, and it is a replacement of the current Sales Tax and Service Tax. GST is a consumption tax, which means the more you consume, the more GST you need to pay.

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How does GST work & Types of Supply

At a glance, GST comes with a flat rate of 6% on the invoice value. However, there are exceptions to the rule. In next part of this article, we will see the different types of supplies that will affect how GST will impact a Taxable Person.

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Taxable Supplies, Value of Supplies & Time of Supply

Supply means to provide, serve or furnish something. This is normally the situation where one person supply something to a receiver in return for a consideration. Taxable supplies therefore covers the following…

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Non-Allowable Input Tax, Bad Debts Relief, Record Keeping, Offences & Penalties

While is general, input tax is claimable under Standard and Zero-rated supplies, there are certain instances where Input Taxes are blocked, ie. not claimable. They are the followings…

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