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This GST guide is to reference with official Royal Customs recent update as at 24th May 2018.
Kindly refer to the following link: http://gst.customs.gov.my/en/hl/SiteAssets/pdf/FAQ%20v3%20EN.pdf
TOPICS:
1. What's the tax code used for GST 0% for standard rated purchase and sales?
- The tax code used for Purchase will be ZP or any code that the company uses for purchases at 0%.
- The tax code used for Sales (0%) will be SR any code that the company uses for standard rated local supplies.
2. What's the action taken by Wavelet?
- Wavelet will be changing the tax rate from 6% to 0%.
3. Do I need to change the Tax Configuration?
3.1: EMP Tax Configuration
- EMP Tax Configuration will be changed by Wavelet during the server update on 2018-05-31 night.
3.2: Item Maintenance (Selling Price / Purchase Price)
- User need to inform Wavelet if need to use price as Inclusive or Exclusive. Wavelet will be updating the system for the item price during the server update on 2018-05-31.
3.2 Supplier Maintenance
- Tax Code and Tax Rate at Supplier Maintenance need to be checked.
3.3 Customer Maintenance
- Tax Code and Tax Rate at Customer Maintenance need to be checked.
4. What's the action required user side?
- User need to ensure the Printable/ Hard copy Tax Invoice passed to customer need to have 0% tax rate. Need to double check before pass to customer.
5. How to record transactions before 1 June 2018 with GST 6%?
Performing back-dated transaction for May 2018.
Scenario: In June 2018, user wants to back-date transactions to May 2018. However, starting 1st June 2018 onwards, EMP captures SR tax code as 0%. May 2018 has 6% GST.
Answer: User need to manually change the Tax Rate from 0% to 6% at the Item Widget before Confirm and Save the transaction. To allow user to back-date the transaction, need to enable the permission as follows:
Go to: Control Panel > System Admin > Manage Users > Configure Role Permission
6. How does the system handle deposit transactions?
Full Deposit
Scenario: In May 2018, customer paid full deposit payment (RCT). In June 2018, the Invoice (INV) is issued or Sales Order (SO) converted to Invoice. RCT in May 2018 has GST output suspended. INV in June 2018 has 0% tax rate.
Answer:
Partial Deposit
Scenario: In May 2018, customer made partial deposit payment (RCT). In June 2018, the Invoice (INV) is issued or Sales Order (SO) converted to Invoice. Partial RCT in May 2018 has 6% rate included. Another partial RCT in June, will there be 6% tax rate?
Answer:
7. When Sales Order created before 1 June but converted after 1 June, does system auto change the tax rate to 0%?
8. Do I need to submit GST-03 return?
- Yes, GST-03 still needed to be submitted.
9. How should I declare GST-03 return with quarterly taxable period? (1 April 2018 to 30 June 2018)
10. How to treat Bad Debt Relief before 1 June and Bad Debt Recovered after 1 June
Scenario: Bad Debt Relief was done in May 2018, Bad Debt Recovered was done in June 2018.
Answer: Bad Debt Recovered need to have 6% tax rate if it is done in June 2018, if it is related to Bad Debt Relief done in May 2018 or before.
11. Sales Return
Scenario: Invoice (INV) was issued in May 2018 with 6% tax rate, Sales Return (SR) was created in June 2018. How would the SR be treated for GST?
Answer: SR in June 2018 need to have 6% tax rate based on the INV issued in May 2018.
12. Consignment
Scenario 1: Customer Consignment Create (CCO) was issued in May 2018, Customer Consignment Return (CCI) was done in May 2018. Consignment Billing (INV) was issued in June 2018.
Answer 1: Transaction will be as usual. CCO and CCI will have 6% tax rate and INV from consignment billing will have 0% tax rate.
Scenario 2: Customer Consignment Create (CCO) was issued in May 2018, Customer Consignment Return (CCI) was done in June 2018. Consignment Billing (INV) was issued in June 2018.
Answer 2:
13. Invoice
Scenario: Invoice is issued in May 2018 with 6% tax rate and RCT (payment) made in June 2018 with 0% tax rate.
Answer:
14. What will the tax rate be for BOM items?