Good and Service Tax (GST) implementation around in the corner, are you ready? How would you furnish yourself with the most updated GST information? Don't worry follow our step by step guide on how to deal with GST. Explore yourself.

1. Loh Boon How
Chartered Accountant

2.  Mandatory register
• If the business exceeding the annual
threshold of RM500,000 are liable to
registered,
• Including sole-proprietorship, partnership,
company, non-profit organisation, society
and any other person,
• Custom will allocate a GST identification
number for the registered person.
B.H. Loh & Associates

3.  Voluntary register
• Not exceeded the defined threshold, may select the
voluntary registered,
• Subject to Director General of Custom approval,
• The registered person required to maintain the
registration for at least 2 years,
• Submit registration form GST 01 to the nearest
Custom office or online Tax Access Point (TAP)
B.H. Loh & Associates

4.  Group registration
 The holding company holding at least 50% of
issuing capital of all other subsidiary
companies,
 The control could either be directly or
indirectly,
 Nominate a group representative to submit a
group tax return,
 The supply between the member are
disregarded from the GST.
B.H. Loh & Associates

5.  Branch registration
 The branches are required register separately
and allocate number and file their own tax
return,
 The taxable person is responsible to all its
GST of the branches,
 The supply between member are disregarded
from GST.
B.H. Loh & Associates

6.  Full tax invoice
 Once registered, issue a full tax invoice after
21 days of supply,
 The particulars likes GST identification
number, the payment before GST, the GST
charges and total tax payment after charging
of GST.
B.H. Loh & Associates

7.  Simplified tax invoice
 You can always apply to very your tax invoice
with less particular this is known as a
simplified tax invoice,
 A prior approval from Director General of
Custom is required.
B.H. Loh & Associates

8.  Whatever purchases that you have incurred is
subject to GST, therefore entitled to claim
back the GST input tax,
 When you charge GST to your client, the
amount that you have collected is an output
tax and may offset with the input tax,
 The input tax could be claim back within 6
years from the Tax Invoice date,
B.H. Loh & Associates

9.  When the amount of excess output tax, you
may need to repay to the government within
specific date,
 However, when you have an excess of the
input tax you may refund from the
government,
 The simplified tax invoice may claim the
maximum amount not exceed RM30.00,
B.H. Loh & Associates

10.  However, if you intended to claim more that
RM30.00, then you need to obtain a full tax
invoice,
 Not all input tax are claimable, such as
purchase of passenger car, entertainment
expenses, medical fee to employee and so on
are blocked.
B.H. Loh & Associates

11.  You must submit a tax return before the last
day of the following month after the end of
the taxable period,
 The taxable period is where the taxable
person is liable to account and pay their GST,
 If the annual turnover more that 5M, the
taxable period is a monthly basis, if less that
5M is a quarterly basis,
 The default mode is quarterly basis,
B.H. Loh & Associates

12.  You may very the taxable period with the
approval of Director General of Custom,
 The tax return form GST 03, could submit
online, by postal and in the nearest Custom
office.
B.H. Loh & Associates

13.  You must pay GST before the last day of the
following month after the end of the taxable
period,
 The GST should pay through the appointed
bank or inter-bank transfer facilities and the
payment must payable to “Ketua Pengarah
Kastam”
 Any refund will be offset against other unpaid
GST, customs and excise duties and the
refund will be within 14 days, if submit online
or 28 days if submit manually.
B.H. Loh & Associates

14.  If you have any enquiry, please
Surf our website : www.bhlohass.com.my
Email to us: bhlohass@gmail.com
Call us : 6016-4893382
B.H. Loh & Associates