Disclaimer: The following are recommended solutions only. Please refer to any changes or latest updates from RMCD official website.
Note: We are updating contents of this page.
1) Filing Cycle
The following is the final filing cycle for GST period and GST exit.
For monthly submission will be as follows:
| Filing Cycle | Remarks |
|---|---|
| Aug 2018 | Submission for GST period for Output and Input Tax with 0% tax rate |
| Sept 2018 - Dec 2018 | Final submission to claim Input Tax |
For quarterly submission will be as follows:
| Filing Cycle | Remarks |
|---|---|
| Jul - Aug 2018 | Submission for GST period for Output and Input Tax with 0% tax rate |
| Sept 2018 - Dec 2018 | Final submission to claim Input Tax |
Note:
1)For quarterly submission, the existing filing cycle would be Jul - Sept 2018 and Oct - Dec 2018. Please request from our Support team to edit the financial cycle if you need to proceed with GST Final Submission for Input Tax.
2)In case all the Input Tax has been claimed by Aug 2018 and also, the Inventory and Fixed Asset has been declared in Aug 2018, user do not need to proceed with Sept - Dec 2018 GST final submission.
2) GST-03 (5b) and (6b) transfer negative amount
For Filing cycle that falls in June, July and August 2018 Filing cycle, there are high possibilities of negative amount to be reflected at (5b) and (6b).
User needs to do GST adjustment using AJP and AJS, to transfer the amount from (5b) to (6b) and vice versa.
3) Input Tax Filing - Final claim
For the final GST submission, user needs to generate all the remaining documents that has not filed.
Go to Extended Module > Malaysia GST > Tax Filing > Input Tax Filing
- User needs to ensure the date generated should be from 2015-04-01 till 2018-08-31.
- It is advised that the users should not generate the date for this Input Tax Filing from 2015-04-01 till 2018-12-31. Since there is no GST from September 2018 onwards, there should not be any documents listed if the date range is selected up to 2018-12-31.
- All the Input Tax documents up to transaction date of 2018-08-31 should be filed. The amount will be reflected at GST-03 (6a) and (6b).
- For Input Tax GL, all the amount shall be transferred to gstPayable GL upon filing all the Input Tax documents.
- Upon transferring Input Tax to gstPayable GL, there will be Debit balance. This amount in the Balance Sheet will be carried forward till the refund from Customs is received.
4) Declare Stock and Capital Goods
Stock Declaration for final GST submission
5) Output Suspended GL
- To check if there is INV created but have not settled with Deposit RCT yet.
- If there is INV outstanding and have not settled with Deposit RCT, user need to contra both documents.
- However, after contra, there will be balance amount at Output Tax. (To check if can be filed) - Follow settlement date? To do 2nd Revision, or can file in Sept - Dec 2018 cycle? Might cause 5a and 5b to have amount.
6) Balance Sheet GST - still carry forward to 2019?
7) Bad Debt Treatment
- AR Bad Debt Relief still can be claimed till the last submission 2018-12-29
- Subject to internal company's decision, to claim the Bad Debt Relief. However, in 2019, if the Bad Debt is recovered, there will be outstanding amount at Output Tax GL.
- If company decided not to claim Bad Debt Relief, in assumption/ assurance that the customer will pay in 2019, and later the payment is not received, the company shall absorb the loss.
- The same case applies to AP Bad Debt. For your supplier, it is advised to settle all the payments for the SINV created before 2018-08-31, to refrain from AP Bad Debt Paid and Bad Debt Recovered process.
8) Blocked Capital Goods