REGISTERED vs NON REGISTERED GST BUSINESSES
#GST11Ask 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.
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
Mobile: 012-6989356
Mobile: 012-6989356
CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)
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