GST Price Check for household items

Good news, Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) with corroboration of Mimos has released a smartphone app where buyers can check GST item prices before buying them. With just 3 steps, buyers can check for over 10,000 goods price. Having tested, the App supports many household products such as basic food items, diapers, processed…

GST Software Malaysia

Upgrading your business accounting software to a one that is compliant with GST may not be an easy solution. At the time of writing there are around 300 local and foreign softwares which are GST compliant and is approved by Royal Custom Department of Malaysia. A GST compliant software will help a business tracking and…

GST Zero Rated Exemption Supply List

The Malaysian Government has finally released the finalised GST exemption list. This list of zero rated GST items will not be subjected to GST when it will be implemented on 1st April 2015. The Goverment has previously maintained that basic food items, education, healthcare and medical will not be subjected to GST. During the Budget 2015…

Cheaper Cars after GST

New car prices are expected to be cheaper after the implementation of GST according to Malaysia Automotive Institute (MAI). Currently new cars are subjected to 10% sales and service tax but this will be replaced with GST which is 6%. This may indirectly reduce new car prices with lower sales tax however it will be very…

GST and Property Rental

One of the frequently most asked question for GST implementation is whether the income from property rentals are GST taxable. As a rule of thumb, Malaysian Royal Custom department has clarified that there are no GST charges for residential rental of properties however a standard 6% GST may be chargeable for commercial use rented properties. This means…

GST Registration deadline on 31st December 2014

All business that has sales turnover RM 500,000 or more will have to register for GST before 31st December 2014 while business with revenue less than RM 500,000 will have voluntary option for registration. The registration needs to be done with Malaysian Custom Department. According to Customs Department Senior Assistant Director Chin Jek Bik, failing to do…

GST Taxable Items

There has been a lot of questions lately with regards to which items that are taxable to GST. To understand the answer to this question, we will have to take a look on how GST works. Basically under the proposed GST Bill, all company with yearly revenue of RM 500,000 or more is required to…

Anti GST Rally

Kuala Lumpur: Tens of thousands GST critics has hit the street of Kuala Lumpur during the recent Labour Day on last Thursday. The recent hike is cost of living and the implementation of unpopular consumption tax GST has forced demonstrators to take the street. Protesters came in as early as 7am to take part in…

How GST works

GST or Goods and Services tax or Value Added Tax is a consumption based tax charged on all taxable supply of goods. There are a few “Zero Rated Supply” group of items is exempted from GST which includes Basic food items (flour,rice) Public Transportation Healthcare and education   Malaysian government has long proposed the current…