Goods & Services Tax (GST)
Overview, Legislation, Incentives and Programmes for SMEs
Overview of GST in Malaysia
Why GST?
Objective of GST: To replace current consumption tax
Comparison between SST and GST
Basic Principles of GST
GST rate
GST Mechanisme
How GST work?
Purpose of GST eVoucher - Incentive for SMEs
Criteria of GST eVoucher
How to obtain GST eVoucher
Sample of GST eVoucher
Other incentives for business implementing GST
Legislation & Guide on GST
Legislation
- GST Act 2014
- An act to provide for the imposition and collection of goods and services tax and for matters connected therewith
- http://gst.customs.gov.my/en/rg/Pages/rg_bill.aspx
- GST Regulations 2014
- GST Orders
Guides
- General Guide
- Industry Guides
- Specific Guides
- Accounting Software Guide
Legal definition related to GST
GST is charged on
- the taxable supply of goods and services
- made by a taxable person*
- in the course or furtherance of business
- in Malaysia
* A person who is or is required to be registered for GST
Meaning of Taxable Person
- Includes individual, corporation, Federal Government, State Government, statutory body, local authority, society, trade union, co-operative society, joint venture, trust, partnership and any other body, organisation, association or group of persons, whether corporate or unincorporated
Scope
- Includes natural and juridical persons
- individual, sole proprietor and partnership
- company, club, association, society, co-operative, trade union, non profit body and unincorporated bodies
- trust, trustee, executor, administrator and joint venture
- Federal Government, Sate Government, statutory body and local authority
