GST TAX CODE : OP

TAX CODE : OP

This refers to purchase of goods outside the scope of GST. An example is purchase of goods overseas and the goods did not come into Malaysia, the purchase of a business transferred as a going concern. For purchase of goods overseas, there may be instances where tax is imposed by a foreign jurisdiction that is similar to GST (e.g. VAT). Nonetheless, the GST registered trader is not allowed to claim input tax for GST/VAT incurred for such purchases.

消费税(3):马来西亚消费税内的供应 (Supply)与生意 (Business)的解读

20141110-001.www.klse.company.blogspot.com.马来西亚消费税内的供应 Supply与生意 Business的解读.GST Malaysia.1gst.com.my 

马来西亚的销售税(Sales Tax Act 1972)是于1972年推出,然后在1975年续而实行服务税(Service Tax Act 1975)

1982年调涨销售税税率,从5%调涨至10%。

服务税是于2011年,也就是36年后才调涨税率,从5%涨至6%。

销售税和服务税将在2015年4月1日走进历史,消费税(Goods and Services Tax, GST)取而代之。

GST TAX CODE : EP

TAX CODE : EP

This refers to purchases in relation to residential properties or certain financial services where NO GST was charged (i.e. exempt from GST).

Consequently, there is no input tax would be incurred on these suplies.

LIST IS AVAILABLE FROM ROYAL MALAYSIA CUSTOMS WEBSITE UNDER GST LEGISTRATION / ORDER.

 

 

GST BRANCH REGISTRATION

A business may operate through branches. Even though they are not separate entities, these branches maintain their accounts separately, the all the accounts amalgamated annually.

If normal GST rules applied, this mean that these accounts would have to be amalgamated at every tax period.

To avoid the administrative and accounting costs involved in this procedure, special rules applied. i.e. you may register your branches separately.

GST TIME OF SUPPLY FOR CONSIGNMENT SALE

If a supply of goods is on consignment basis, the time of supply will be when the consignee issues a statement of sales to the consignor stating that the goods had been sold or 12 months from the date the goods were sent to the consignee, whichever is the earlier.

Applying the 21 days rule, if a tax invoice was issued within 21 days from the date the consignee issued the statement of sales or 12 months the goods were removed, then the time of supply is the date of the tax invoice.