This GST guide is to reference with official Royal Customs recent update as at 25th 30th May 2018.
Kindly refer to the following link: (English Version) http://gst.customs.gov.my/en/rg/SiteAssets/FAQ_BIPDF.pdf
: (Malay Version) http://gst.customs.gov.my/en/rg/SiteAssets/FAQ_BMpdf.pdf
: (Chinese Version) http://gst.customs.gov.my/en/hl/SiteAssets/pdf/FAQ%20GST%20TO%20ZERO%20RATE%2028129.pdf
TOPICS:
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| title | 1. What's the tax code used for GST 0% for standard rated purchase and sales? |
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- The tax code used for Purchase will be ZP-0% (This tax code is advised to use for transactions after 1st June 2018)
- The tax code used for Purchase will be TX-6% (This tax code is advised to use for back-dated transactions)
- The tax code used for Sales (0%) will be SR-0%
Notes: If use tax code ZP-0%
1. EMP configuration-tax, Item's Default Input Tax Code (Purchase) - HAVE to change to ZP (from TX-6%); (Wavelet's support change on back-end when update server on 31 May 2018))
2. Item master : HAVE to change to ZP (Wavelet's support change on back-end when update server on 31 May 2018))
3. Supplier master: default tax code with TX-6% - HAVE to change to ZP (Wavelet's support change on back-end when update server on 31 May 2018))
4. GST-03, 6a with supplier value ; 6b 0 gst amount (filed all the input tax claimed even gst amount = 0), refer to GST-03 version 4, refer GST-03 Info & Formula
If use TX-0% involve minor changes
1. EMP configuration-tax, Item's Default Input Tax Code (Purchase) - NO changes required
2. Item master : NO changes required
3. supplier master: default tax code with TX - NO changes required
4. GST-03, 6a with supplier value ; 6b 0 gst amount (filed all the input tax claimed even gst amount = 0), refer to GST-03 version 4, refer GST-03 Info & Formula
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| title | 2. What's the action taken by Wavelet? |
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- Wavelet will be changing the tax rate from 6% to 0%
- Related tax code:
- Purchase : TX-NC, BL, TX-CG, IM-CG
- Sales : SR, DS, DS-ISRV
- Remain unchanged :
- TX-6%
IM-0% (tax on imported goods - 6%)
AJP-6%
AJS-6% - Flat rate: TX-FRS - remain 2%
- Wavelet will update server on 2018-05-31 night
- Replace Item Master, Supplier Master, TX to ZP
- Change Selling Price to excluded gst and update the rounding (based on the feedback on telegram group)
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