GOODS AND SERVICE TAX
A Coggle Diagram about SCOPE OF CHARGE (founded on concept of input/output tax, 6%input tax by tax invoices from gst registrant suppliers and 6% output tax-tax invoices issued), SCOPE OF CHARGE (be levied and charge on taxable goods/serivces, OUT OF SCOPE SUPPLY and TAXABLE SUPPLY), REGISTRANT (sole proprietor, partnership and SDN. BHD,), TIME OF SUPPLY (goods- customer acknowledge receipts of goods and services- service are performed), OFFENCES AND PENALTIES, EMPLOYEES BENEFIT (GST to be disregarded as ‘supply’ in the event that the employees’ benefits provided by the employer are expressly stated in the employees’ handbook, company policy or employer’s contract.
There will not be any GST implication when such benefits are provided to employees), PLACE OF SUPPLY (LABUAN, LANGKAWI, TIOMAN-free form GST), INPUT TAX (a)the business entity has to be GST registrant;
b)the purchases must be from GST registrant suppliers;
c)the purchases are supported by tax invoic), CONSIGNMENT GOODS; not supply, no GST, TAXABLE PERIOD- every 3 months, SUBMISSION OF RETURN-within 1 month of every taxable period, PAYMENT OF GST-within 1 month of expiration of taxable period and PRICE-inclusive basis