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).

For a FREE TRIAL ACCESS to SAP Business One Cloud

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

For a FREE TRIAL ACCESS to SAP Business One Cloud

CUKAI BARANG DAN PERKHIDMATAN (lebih dikenali sebagai GST)