Malaysia GST - Retailer Gifts

Gifts

#GST22

6 Promotion Items:

i)   Discounts 

ii)  Samples

iii) Purchase with Purchase

iv) Tie-In Goods

v)  Gifts

vi) Monetary Vouchers


It is common business practice that the Retailers give gifts to its employees or business associates during special season like Deepavali, Hari Raya, Chinese New Year etc.

This is the rule whether you need to account for GST:

1) <= RM 500 per person per year 

If the gift amount is given to a person for less than RM500.00 then there will be NO GST

2) >RM 500 per person per year then 6% GST will apply

For both the situations above, retailers are entitle to claim their INPUT TAX.

Note:

No GST has to be charged if the gift is in the form of services (not a supply).

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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)

Malaysia GST - Retailer Tie-In Goods

Tie-In Good

#GST21

6 Promotion Items:

i)   Discounts 

ii)  Samples

iii) Purchase with Purchase

iv) Tie-In Goods

v)  Gifts

vi) Monetary Vouchers

Beli nasi lemak (RM5.00) dapat air minuman percuma

Note: nasi lemak is principal goods and air minuman (drink) is tie-in goods 

atau

Beli berus gigi (RM8.00) dapat ubat gigi 

Note: berus gigi is principal goods and ubat gigi is tie-in goods

How do you account your GST?

2 scenarios can take place:

Scenario 1: If both tie-in goods and the principal goods are standard rate (6%)

Price (inclusive of GST) of Principal Goods Item = RM100

6% of GST                                                              = RM100 X 6/106

Scenario 2: 

If the ‘tie-in goods’ is standard-rated and the principal goods is zero-rated. 

Principal goods is Zero Rated e.g. rice = RM30.00

Note: Tie-in goods is Standard Rate

GST                                                       = RM0.00 *

* Since the principal good is a zero rated supply, GST is not chargeable on the supply.

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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)

Malaysia GST - Retailer Purchase with Purchase

Purchase with Purchase

#GST20

6 Promotion Items:

i)   Discounts 

ii)  Samples

iii) Purchase with Purchase

iv) Tie-In Goods

v)  Gifts

vi) Monetary Vouchers

Do you like shopping? If yes, then this piece of information is meant for you. 

If you purchase a Polo Shirt of ABC Brand for an amount of RM100, the retailer will offer you to purchase a second item at a special price say RM50.00 (normal price is RM70 if you buy the first piece). What do you think, do you need to pay GST or Not for the second purchase? If yes, how much?

Note: GST charged on second purchase based on Net Price.

Answer:

First Polo = RM100 X 6/106

Second Purchase = 50 X 6/106

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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)

Malaysia GST - Retailer Samples

Samples - Do you need to pay for GST?

#GST19

6 Promotion Items:

i)   Discounts 

ii)  Samples

iii) Purchase with Purchase

iv) Tie-In Goods

v)  Gifts

vi) Monetary Vouchers

If your business required you to provide product sample to your customers to try or for any reasons then all the sample products are not subject to GST but it has to comply with the following conditions:

(a) the samples must be stamped with the words "Sample only. Not for sale";
(b) the samples must be easily distinguishable from the commercial products;
(c) neither the supplier nor the retailer charges GST on samples;
(d) the samples are given for business promotion;
(e) the samples remain the property of the supplier until they are given to customers; and
(f) the balanced samples are to be returned to the supplier.

However, if the retailer sells the commercial samples, he must charge GST on the commercial samples and account the output tax.

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Malaysia GST - Taxable Periods

What is Taxable Periods?

#GST18


Taxable period

S40(1) of GST Act, taxable period are normally monthly or quarterly. In case one choose not to follow the norm (monthly or quarterly), then one needs to apply to Director General for approval on the period that they want to submit.

Question now is when you should follow monthly or quarterly (every 3 months)?

Answer: You should follow monthly if your total value of your taxable supplies are more than RM5 million ringgit for the calendar year.

Important Notes: According to S41(6) of GST Act, it is an offence of not submitting your return (GST03). If convicted, you may be fine not more than RM50,000 or to imprisonment for a term not exceeding 3 years.

Summary:
Non submission of return:
1) Fine not more than RM50,000 or
2) Imprisonment < 3 years

Hope it will help in your implementation and a have a smooth transition on 1 April 2015. 

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Malaysia GST - Retailer Promotion Items

GST on Business Promotion

#GST17

6 Promotion Items:

i)   Discounts 

ii)  Samples

iii) Purchase with Purchase

iv) Tie-In Goods

v)  Gifts

vi) Monetary Vouchers

Coming:

In the next few days, I am going to discuss all the above topics. By the way, I have discussed Discounts in my other blog.

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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)

Malaysia GST - Retailer Discounts

How do you account for GST if you are giving Discounts to your customers?

#GST16

6 Promotion Items:

i)   Discounts 

ii)  Samples

iii) Purchase with Purchase

iv) Tie-In Goods

v)  Gifts

vi) Monetary Vouchers

Do you give the following discounts to your customers:

i)   Price Disount
ii)  Prompt Payment Discount

iii) Volume Discount

iv) Discount Vouchers

Note: GST is charged on the value after discount.

                                                             RM

Price inclusive of GST                      106.00

Less: Discount  10%                           10.60 *

Net Price after discount                      95.40

GST@6%    (6/106 * 95.40)                5.40 (for all GST round up to 2 decimal point)

In this case, the retailer will account RM5.40 for its Output Tax.

* The discount can either be fixed amount or a certain percentage, the treatment will be the same.                          
                             

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Malaysia GST - Kalau Cukai Output lebih daripada Cukai Input

Apa itu Cukai Output dan Cukai Input?

#GST15

Cukai Output

Ini adalah cukai ke atas apa-apa pembekalan bercukai barang atau perkhidmatan yang dibuat oleh orang kena cukai dalam penjalanan urusan atau penerusan perniagaannya di Malaysia.

Cukai Input ertinya:

1. cukai ke atas apa-apa pembekalan barang atau perkhidmata kepada orang kena cukai; dan

2. cukai yang dibayar atau yang akan dibayar oleh orang kena cukai ke atas apa-apa pengimportan barang

Adakah cukai output anda melebihi cukai input?

Kalau jawapan anda "YA", anda perlu bayar kepada Jabatan Kastam dalam masa satu bulan selepas tamat tempoh bercukai.

Adakah cukai input anda melebihi cukai output?

Jika sebaliknya, cukai input anda lebih besar daripada cukai output anda, maka itulah 

yang dipanggil sebagai satu tuntutan kredit cukai input dan pembayaran balik ("REFUND") akan dibuat oleh Jabatan Kastam dalam masa 14 hari untuk e-filing dan 28 hari secara manual.  

Bagaimanapun, tuntutan cukai input hanya dibenarkan jika peniaga membekalkan barang atau perkhidmatan berkadar standard 6 peratus atau kadar sifar dan tidak untuk barangan atau perkhidmatan dikecualikan cukai.

Jika cukai input sama dengan cukai output

Borang GST masih perlu di hantar dengan "KOSONG" ataupun "NIL RETURN"

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Saya berharap maklumat yang diberi kepada anda akan membantu semua dalam implementasi proyek GST tahun 2015 dengan lancar.

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Malaysia GST - Official Website for GST

DO YOU WANT TO KNOW MORE ABOUT GST MALAYSIA?

#GST14

Today, I want to share with you some websites in case you are looking for more information about GST Malaysia. I will recommend you the following:

1) Official Website for Malaysia Goods & Services Tax (GST)
   
     In English:
     http://gst.customs.gov.my/en/Pages/default.aspx

     Dalam Bahasa Malaysia:
     http://gst.customs.gov.my/ms/Pages/default.aspx

2) Portal Rasmi Kementerian Pertahanan Malaysia (Ministry of Defence Malaysia)
     http://www.mod.gov.my/penerbitan/category/133-gst.html

     Muat turun: GST: Cukai Barangan dan Perkhidmatan
     Muat turun: GST: Penerangan Cukai Barang & Perkhidmatan

3) Videos on GST - Ms. Yap Shin Siang
     http://www.yycadvisors.com/gst-malaysia-videos.html

4)  2006 Towards Goods and Services Tax in Malaysia: A Preliminary Study
     by Dr. Choong Kwai Fatt
http://www.drchoongkwaifatt.com/profile/wp-content/uploads/2014/04/Towards-Goods-and-Services-Tax-in-Malaysia-A-Preliminary-Study.pdf

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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)

Malaysia GST - Myth - GST will burden Consumers

GST will BURDEN Consumers?

#GST13

Are you one of them, who still think that GST will actually burden you once it is implemented? Is it really burden or not?

In this blog, I will try to provide you some information and you may have a second view about it.

Personally I think GST will ease consumers instead if you were to look at it in bigger perspective. For example, all our basic needs like rice, meats etc are either treated as Exempt Supply or Zero Rated supply. I will do a further research on this and will include an extensive list of all the exempt, 0% rated, Standard Rated supply items for your reference in my coming blog.

I got a more details answer from RMC website to answer to the above question. Please visit to their website for more Q&A.

Malaysia GST - Inclusive or Exclusive of GST in the Price Tag

S9(5) of GST ACT

#GST12

According to S9(5) of GST Act, where any registered person displays, advertises, publishes or quotes in any manner the price of any supply of goods or services he makes or intends to make, such price shall include the tax that is chargeable on the supply unless the Director General approves under S9(7) of GST Act.

So what is the element of GST if the price tag is shown as RM1,000.00. 

[Formula for GST: 6/106 * Price shown in the Price Tag ]

The GST amount is:

6/106 * 1000 = RM56.60

Your business income is 943.40 (RM1000 - 56.60) or 100/106 * Price Tag

[Formula for Business Income: 100/106 * Price shown in the Price Tag]

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Malaysia GST - Do you want to do business with NON REGISTERED GST person?

REGISTERED vs NON REGISTERED GST BUSINESSES

#GST11

Ask yourself now, if you are a GST Registered Company, do you prefer to do businesses with a non GST registered Company or better with GST one?

If your answer is NO, do you have the same answers like me:

I will not do businesses with them because:

1) If a purchase is made from a NON-GST company, they will not issue TAX INVOICE to me therefore I as a Company cannot claim INPUT TAX with RMC. My costs will be higher if that is the case.
2) Immediately comes to my mind, if you are not a registered Company then I will know that your annual turnover is below RM500,000.00. The impression is not good from the beginning, you are a small companies or you may have other opinions on this.

So what now, do you want to register with RMC?

Don't rush, please consider the following points as well?

1) Do you want to go through the hassle for all the quarterly administration work where you need to submit your GST_03 form to RMC?
2) Do you want to spend money to upgrade your existing accounting system?
3) Additional costs to spend on new stationery maybe. I am referring to those who needs to send to printer to print pre-printed forms.
4) Do you sell exempt supply? If yes, then do not waste time on it as you will not be able to claim in any case.

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Contact me:

Kon Wai Cheong

SAP Senior Project Manager
Mobile: 012-6989356

sap.wckon@gmail.com

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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)

Malaysia GST - What is GST?

WHAT IS GST?

#GST10

General Information

Good and Services Tax or well known as GST will replace the current Sales Tax & Service Tax (SST)

Sales and Service Tax will be abolished from 1 April 2015.

GST is charged on goods and services that are:

• Supplied in Malaysia
• Imports

It is also known as Value Added Tax (VAT)

GST is a consumption tax. Simply means that the consumers will be the one who bears all the tax. All the taxes will be passed on to the consumers. Let me stop here for now. I will find opportunity to explain this again in my next blog.

GST will take effect from 1 April 2015.

One has to register with Royal Malaysian Custom (RMC) if one taxable annual turnover is more than RM500,000.00 by 31 December 2014. The registration has begun since 1 June 2014.
Note: If you are selling exempt supplies and more than RM500,000.00 turnover, you do not have to register. Kindly confirm this with your tax accountant on this. Please let me know if my understanding is wrong.

The annual sales turnover can be determined based on either:

• The total value of taxable supplies of the current month and the previous 11 months, or
• The total value of taxable supplies of the current month and the next 11 months.

Late registration with RMC are subject to penalty and it will compute based on number of days late. Try to avoid paying any penalty by making sure that you registered before the deadline. The maximum amount of penalty charges will be Ringgit Malaysia 20,000.00


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Malaysia GST - SAP Business One on Cloud - Simplified Tax Invoice

AR TAX INVOICE (Simplified Tax Invoice)

#GST9

Attached herewith a sample AR TAX INVOICE (Simplified) created in SAP Business One Cloud by the AGS team. (Note: This is a customized form found in our standard SBOC system). 

Company do not need to issue Full Tax Invoice (with more details like address etc) if the transaction amount not more than Ringgit Malaysia 30.00.

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Malaysia GST - SAP Business One on Cloud - AP Tax Invoice

AP TAX INVOICE

#GST8

Attached herewith a sample AP TAX INVOICE created in SAP Business One Cloud by the AGS team. (Note: This is a customized form found in our standard SBOC system).

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Malaysia GST - SAP Business One on Cloud - AR Tax Invoice

AR TAX INVOICE

#GST7

Attached herewith a sample AR TAX INVOICE created in SAP Business One Cloud by the AGS team. (Note: This is a customized form found in our standard SBOC system).

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Sample tax invoice: Line by line

GST amount in your tax invoice can be shown either:
1) Line by line item - meaning every single item will show its tax code and the GST amount; or
2) Lump sum - meaning you will only show the GST amount at the bottom row or line item.

Tax Invoice will be issued within 21 days from the date of delivery of goods. Failure to issue within 21 days, RMC will deem that the invoice has been issued on the date of delivery.

Hope it will help in your implementation and a have a smooth transition on 1 April 2015.

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Malaysia GST - Is your Accounting System ready for GST implementation?

ERP SYSTEM

#GST5

Do you know what to do if you are an existing ERP users like SAP B1, SAP B1 on Cloud, SAP ECC, and Microsoft AX when comes to GST implementation next year?

We specialize in implementing all the above software. You may want to visit us at http://www.abmglobal-solutions.com/ to find out more or For a FREE TRIAL ACCESS to SAP Business One Cloud (Click on the hyperlink)

Here are the things that you need to consider:
1) Project Initiation -

•  Setup a project team for this mini GST project. 
•  Identify all the existing business processes. If you have not done any update to your process  flows for a long time, you must well take this opportunity to do it this time. Note: You may want to review only the GST related processes.
• Ask your implementation partner for all the data migration templates for the updates of AR, AP and the material master data. For example, you need to update all your customers master data with the GST registration number. Note: Most companies will register with custom for GST    status by end of this year (31/12/2014), your vendors and customers may have given you the    GST registered number to you prior to 1 April 2015. The data migration templates, can be created in notepad format or usually I see them in Microsoft Excel format. 
• Sign-off the phase

2) Project Preparation

•  Most likely you have your appointed external consultants or even internal support team join      the mini project
•  Create project plan and project charter for this project. With the project plan, the whole team  will know exactly when they are needed during the project so that they can plan for their          schedules especially in most companies, the staff will have their regular job to do besides the  mini GST project. Ideally do not proceed with any further work if the project charter is not        signed off by the respective persons. As to who needs to sign on the documents will be another  topic that we can discuss further. Project goals, scopes and objectives are clearly defined in the document therefore it is important to have everyone to agree beforehand. If you have Microsoft Project, you can use it to create your project plan. For project charter, you can document it using Microsoft Word.
• In case you have started with data migration activities as per Project Initiation and you are not sure of certain fields required by the templates, take this opportunity to clarify with the person who provides you with the templates. Note: Some may argue it is too early to do data migration at this stage so I will leave it to you and the experts.
• Sign-off the phase

3) Business Blueprinting

• In this phase, we will will review all the "AS IS" (existing) processes of the Company especially those relating to GST. You may obtain them from the key users. If all the existing key users are new to the Company or there is no up to date documentations available since the last implementation, what you can do maybe request the Vendor to assist in creating one for you.
• We will identify the number of forms and reports needed to be changed in order to comply with GST requirements. Discussion with the key users. Note: Customization of forms and reports will take a bit of time especially if you have many to do.
• Update all the business processes flows. You can do it using Microsoft Visio or any flowcharts software. You may even do it in Microsoft Words or Excel.
• Once all the revised business processes flows have been discussed with the key users and agreed. Have them signed off to mark the completion of the phase before you must to the next phase. The signed off is critical for this project as the internal or external consultants who will be doing the changes to the system will be based on what has been agreed. For example, say if you have agreed to allow only Mr. A to access to a certain report and the consultant will configure accordingly in the next phase to allow only Mr. A to access. Therefore if Mr. B or anyone wants to access, the system will not allowed.
• Sign-off the phase

4) Project Realization 

• Configuration to the system by the consultants or any expert familiar with the system. They will configure according to the approved blueprint in the previous phase. 
• After configurations, the consultants will do testings in the system before roll out to key users for testing. Test scripts documentation need to be prepared here. It will be best if the test scripts are prepared by both the consultants and key users. If possible involve the end users as they may give you more inputs on this. The testing can be done manually or automatically. If you are using SAP ECC, then you can use TCode: secatt for your automation testing. I will not discuss how it is use here, maybe in the future I will write a blog on ECATT. (Don't confuse ECATT and SECATT here). Just google it to find out more if you are interested.
• User Acceptance Testing by the key users. The key users will do th
• Immediately after the configuration and testing, the consultants will prepare the functional specifications for all the changes need to be done on the forms and reports. There are new forms and reports maybe required during the process, this can be considered at this stage also. I suggest if the time does not permit because we have less than 153 working days (refer to my other blog on the number of remaining working days before GST go live) to do all the tasks. After the functional specifications created by the consultants, the technical team will create the technical specifications. Note: Personally, I think we can combine the functional and technical specifications into one documentation. Anyway, I will leave it to you.
• Sign-off the phase

5) Final Preparation

• End user training. In practice we normally encourage TRAIN THE TRAINER in a project. This is how it work, the consultant will train the key users and the key users will eventually teach the end users. Key users - refer to the process owners to the module or it can be for the department. End users, I am referring to those who spend most of their time in the system.
• Cut-over discussion and finalized the strategy to apply. This step is very important and for GST Implementation, let's try to do the cut-over around March 15 2015.
• Complete all the customization forms and reports development and testing. Documentation needed here is the end user manual so that it can be used as training materials and references to the staff.

6) Go Live

• Go Live 1 April 2015
• Submit your first GST_03 one month after the go live date. If your annual turnover/sales do not reach RM5 million then your submission will be on a quarterly basis.

Hope it will help in your implementation and a have a smooth transition on 1 April 2015. Good luck! All the above are based on my personal opinions and if you are using a different approach or methodology then the guide may not be relevant for some of the phases.

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Malaysia GST - SAP Business One on Cloud - Credit Memo

CREDIT MEMO

#GST4

Attached herewith a sample Credit Memo created in SAP Business One Cloud by the AGS team. (Note: This is a customized form found in our standard SBOC system).

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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)

Malaysia GST - First Thing First!

WHAT IS YOUR FIRST STEP TO TAKE ON GST?

#GST1

If you are wondering what to do regarding GST, perhaps your very first step is to register with the Custom to obtain your GST Number.

Step 1:

REGISTER FOR GST

Source: RMCD - GST Website (Click on the link for further guidance)

Step 2: Upgrade your accounting system to comply with GST Requirements. I will share in my next blog a general guide on what needs to be done when you try to upgrade your system based on my ERP implementation experiences.

Step 3: Cutover Preparation (Pre-Go Live)

Step 4: Go Live 1/4/2015 and submit your first GST03 to the Custom

Hope it will help in your implementation and a have a smooth transition on 1 April 2015.

Contact me:
Kon Wai Cheong
SAP Senior Project Manager
sap.wckon@gmail.com


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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)

Malaysia GST - SAP Business One on Cloud - GST03 Form

Penyata Cukai Barang dan Perkhidmatan (Goods and Services Tax Return)

#GST3

Attached herewith a sample GST03 form created in SAP Business One Cloud by the AGS team. (Note: This is a customized form found in our standard SBOC system).

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Hope it will help in your implementation and a have a smooth transition on 1 April 2015.

Contact me:
Kon Wai Cheong
SAP Senior Project Manager
sap.wckon@gmail.com


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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)

Malaysia GST - Go Live Countdown to 1 April 2015!

GST Go Live 1 April 2015 Countdown 

#GST2

Hi All,

In another 153 working days, all Malaysian companies which has sales/turnover of RM500,000 or more and has registered with Custom Malaysia (http://gst.customs.gov.my/en/Pages/default.aspx) will start charging GST to its customers.

Working Days from 22 August 2014:
Aug 2014 - 6 (including 22 Aug 14)
Sept 2014 - 22
Oct 2014 - 23
Nov 2014 - 20
Dec 2014 - 23
Jan 2015 - 21 (Note: Jan 1 is a public holiday)
Feb 2015 - 16 (Note: Feb 1-Fed. Territory Day,Feb 3-Thaipusam, Feb 19&20-Chinese New Year)
Mar 2015 - 22

Reminder to those who have yet to register with Custom, please make sure you do it soon. You have approximately 94 working days before the deadline of 31 December 2014.

Kon Wai Cheong
SAP Senior Project Manager
Mobile: 012-6989356
sap.wckon@gmail.com


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CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)




Updated on: 10/09/2014 - Another 145 working days before GST go live. Are you ready?

Working Days from 10 September 2014:
Sept 2014 - 20
Oct 2014 - 23
Nov 2014 - 20
Dec 2014 - 23
Jan 2015 - 21 (Note: Jan 1 is a public holiday)
Feb 2015 - 16 (Note: Feb 1-Fed. Territory Day,Feb 3-Thaipusam, Feb 19&20-Chinese New Year)
Mar 2015 - 22