nah lagi benda dlm 0 rated gst baca tawww.
bahahhaha
What is GST Exempted Supply in Malaysia?A company or individual registered under the GST exempted supply category is not required to collect any goods and services tax nor is that person or company eligible to claim ITC (Input Tax Credit) on the cost incurred when manufacturing goods and supplies. Just like the zero-rated supplies, consumers buying tax exempted goods/supplies can easily identify this group of supplies on the receipt. In other words, these goods and services are free from GST. However, here it is important for companies to understand that securing profit margins would be difficult. In order to improve profits, companies may have to increase the price of their products and services to ensure that the cost of manufacturing is met easily with the price of goods sold. Here is a look at some of the businesses or services that fall under this category: i. Supply of Goods Determined as Exempt SupplyNo. | Item | 1. | Land for residential, agricultural and general purposes (cemeteries, agricultural land and houses of worship) | 2. | Residential building | 3. | Investment precious metals comprising gold, silver and platinum in stipulated forms and gold, silver and platinum coins as listed for the purpose of investment |
ii. Supply of Services Determined as Exempt SupplyNo. | Item | 1. | Financial services comprising the following:
- Current, fixed or savings accounts;
- Loans, advances or credit;
- Installment credit finance in a hire-purchase, conditional sale, credit sale or lease agreement;
- Note or order for payment;
- The exchange of currency;
- Ownership or derivative relating to an obligation to pay interest or similar charge;
- The holding of bonds, debentures, bank notes or similar instruments representing or evidencing indebtedness, whether secured or otherwise;
- The transfer of ownership of any securities or derivatives relating to securities;
- The transfer of ownership of futures contract or derivatives relating to commodities except for settlement of any futures contract by way of physical delivery
- The issue, holding or redemption of any unit or other similar instruments under a trust fund; and
- The provision of any life insurance or life reinsurance.
The services listed above do not include any service relating to the provision of financial products which charge fees and not penalties. | | 2. | Educational services consisting of pre-schools, primary and secondary schools, tertiary education provided by private schools (including private Chinese schools), international schools, state religious schools, public and private institutions of higher education and registered certified centres providing technical and vocational education. Educational service provider must be registered under the related Act or with the Ministry of Education. Educational services exempted from GST include:
- course materials;
- field trips or group tours;
- the provision of food and accommodation;
- student transport; and
- examination services.
The educational services above do not include tuition classes, training in language, computer, skills, vocation, profession or trade or commerce, mind enrichment and guidance centres. | | 3. | Child care services provided by any child care centre registered under the Child Care Centre Act 1984 | | 4. | Healthcare services provided by any private healthcare facilities registered or licensed under the Private Healthcare Facilities and Services Act 1998 including the provision of food and beverage to patients. Services referred to do not include traditional or alternative medicine. | | 5. | The rental or lease of land or building for residential or agricultural or general purposes. Management services by a management corporation and a joint management body for low or medium low strata title housing is exempted from GST. | | 6. | Public transportation (land and water). | | 7. | Highway tolls | | 8. | Funeral, burial and cremation services including pre-funeral program. | | 9. | Maintenance fees and sinking fund for all types of residential buildings that are held under strata ownership |
What is GST Relief in Malaysia?Goods and Services Tax relief basically refers to the remission of the proportion of tax income which is normally due on income earned. According to the Goods & Services Tax Relief Order 2014, entities that were granted tax relief from GST payment on goods acquisition include: i. Persons and Entities Granted Relief From Payment of GST on Acquisition of GoodsNo. | Person/Entity | Goods | 1. | SPB Yang Dipertuan Agong, Sultan, Raja, Undang and Tuan Yang Terutama | All goods excluding petroleum | 2. | Federal or State Government Department | All goods excluding petroleum and imported motor cars | 3. | Public higher educational institution | Equipment and materials for educational purposes | 4. | Private educational institution for pre-school, primary, secondary, higher education and skills including Maktab Rendah Sains MARA | - Multimedia equipment used as a teaching aid
- Equipment for science and linguistic laboratory
- Tools and equipment for technical of vocational studies
- Chemicals, solution and gas for science laboratories
| 5. | Private hospital | Medical equipment | 6. | Any person holding a valid Kad OKU issued under the Person with Disabilities Act 2008 | Goods used by persons with disabilities | 7. | Any person entering Malaysia and journalists | Listed goods | 8. | Driver from Labuan and Langkawi | Motor vehicles and motorcycles | 9. | Importer | Goods imported for repairs and subsequently re-exported. | 10. | Any public body | Goods taken as samples | 11. | Any importer using courier services | All goods excluding cigarette, tobacco and intoxicating liquor | 12. | Embassies and foreign diplomats | Goods excluding petroleum | 13. | Malaysia-Thailand Joint Authority | Goods which are to be fully used in the Joint Development Area |
Relief granted from GST on supply of both goods and services include:No. | Person/Entity | Goods | 1. | Any person | Supplies made in a fund raising event | 2. | Duty free shop | All goods supplied at the duty free shop | 3. | Any person | Goods and services supplied within Joint Development Area |
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Post time 25-4-2017 10:19 PM
