transitional issues akmal kelantan

7/21/2019 Transitional Issues AKMAL Kelantan

http://slidepdf.com/reader/full/transitional-issues-akmal-kelantan 1/27

Transitional Issues

Date: 4 May 2014

Venue: AKMAL Timur, Kelantan

Presenter: Fazilah Ariff

SM!"A#



22

Agenda

Supply Spanning GST1

2Acts Repealed

3 Non Reviewable Contract

4 Special Refund



1

3



From the appointed date A! " implementation of GST ie# $ April %&$'(

Still enforced on matters where ta) is due and payable and liabilityoffences( incurred*

Repeal of Sales Ta) and Service Ta)

4


http://slidepdf.com/reader/full/transitional-issues-akmal-kelantan 5/27 5

Final return for Sales ta)

• Final return must be submitted not later than %+ days from the datethe GST Act comes into force GST implementation date(

• All ta) liabilities must be accounted in the final return

Final return for Service ta)• Return can be submitted in accordance with the Service Ta)

Actpayment basis(# The licensee may have to submit two returns* GST return

Special form for service ta) until the e)piry of $% months from the GSTimplementation date

Repeal of Sales Ta) and Service Ta)



Facility Not registered

person

Registered

person

Section , - Ac.uisitions freeof sales ta) C/01 C/02(

Account sales ta) ongoods held on hand

State in C/3$ andpay in return for last

ta)able period

Not re.uired toaccount for salesta) on goods heldon hand

Section $& - 4inister grant

e)emption and refund tolicensee

Section 5$A - deduction ofsales ta)

Semi finished and finishedgoods 6section %%0( whencease business 7 cease to belicensed8

Repeal of Sales Ta) Act $,9%

6



2

7



:hat is supply spanning GST;

3ayment or invoice before appointed date and supply ta<es place onand after appointed date or vice versa e#g# sales of goods1 airline

tic<ets and cinema

General Rule

Any supply before appointed date is not sub=ect to GST

Any supply on or after appointed date is sub=ect to GST

>)ception to general rule

Supply of warranty 3rovision of goods where sales ta) has been charged

3rovision of services where service ta) has been charged

Non reviewable contracts

Supplies Spanning GST



2>F?R> GST ?N ?R AFT>R GST I43@ICATI?N ?N GST

Goods Suppliedavailable 7 removed(

3ayment received 7Invoice issued

Not sub=ect to GST 2T sub=ect toSA@>S TAB

Invoice issued or payment

received

Goods sub=ect to

sales ta) supplied

Not sub=ect to GST 2T sub=ect to

SA@>S TAB

Supply non ta)ablegoods under SalesTa) Act $,9%#

alue of supply deemed inclusiveof GST and account in the $st ta)able period after the appointeddate

Goods imported Release fromcustoms control

Sub=ect to GST and date ofimportation is when released fromcustoms control




2efore GST ?n or After GST Implication on GST

3rescribedServices supplied

3ayment receivedNot sub=ect to GSTSub=ect to service ta)

3ayment received7 service ta)charged or paid

3rescribed Servicessupplied

Not sub=ect to GSTSub=ect to service ta)

3ayment received7 invoice issued

Non prescribedservices

alue of supply deemed inclusive

of GST and account in the $st

ta)able period after the appointeddate




If the invoice for renting a hall is

issued before GST

implementation date1 prior to an

event which would only ta<eplace after A!*

The services will not sub=ected

to GST but sub=ect to serviceta)#




Tic<ets sold before GSTimplementation but services

perform after A! eg# admission

tic<ets to theme par<

Sub=ect to GSTD

Amount paid to be GST inclusive eg*

Tic<et price at R4$&& ) GST E to

be shown as R4$&#&& notseparated(




13

:hat is progressive or periodic supply;

3art of supply before appointed date and part of supply on

and after appointed date 1 supply is continuous and

uniform e#g# electricity and commercial rental1 telephone

rental

General Rule

Any supply before appointed date is not sub=ect to GST

Any supply on or after appointed date is sub=ect to GST

:or< out GST on proportional time basis

3rogressive or 3eriodic Supply



14

GST $7'7%&$0

Sub=ect to GST

alue H R4 5&&

Supply of

electricity

%$757%&$0 %&7'7%&$0

Ta)able alue H R45&&75& ) %&H R4%&&

GST H R4$%

3rogressive or 3eriodic Supply



15

Treatment of Supplies Spanning GST

GST to be imposed at the time when goods are removedor when services are performed

Special transitional rules to cater for certain transactions

e#g# rights granted for life such as club membership1retention payment and machine operated by coin




3

16



17

Non reviewable contract

:ritten contract with no provision to review consideration

for the supply until a review opportunity arises

AN!

%' months before the date of GST implementation $ April %&$0(

Non Reviewable Contract



GST implementation date

Contract

signed

Bill passed

Subject to GSTNo GST

illustration – contracts spanning effective date

Contract A

Contract B

No GST Zero rated

Non-revieable contracts

No GST Standard rated

!evie opportunit"

or # "ears$

%ic%ever earlier

Contract

ends

Subject to GST

Transitional period



19

ero rate supply for 0 years after appointed date or when a

review opportunity arises whichever is the earlier if

2oth supplier and recipient are registered personsD

Supply is a ta)able supplyD and

The recipient of the supply is entitled to claim input ta)

on that supply

After 0 years period1 revert to either standard rate or Jero

rate

Non Reviewable Contract



4

20



21

>ntitle to special refund of Sales ta) $&&( if

claimant is registered mandatory( person

hold goods on appointed date for ma<ing ta)able supply

goods are sub=ect to sales ta)

holds relevant invoices or import document to show sales

ta) has been paid

Special Refund



22

Goods not eligible for special refund

capital goods e#g# building and land

goods used partially or incorporated into other goods e#g# raw

materials1 wor< in progress

goods for hire e#g# cars1 generators

goods not for business e#g# personal use

goods not for sale or e)change e#g# containers1 pellets1 stationeries1

moulds1 manufacturing aids

goods entitled to drawbac<

goods allowed Sales ta) deduction under Section 5$A STA $,9%

credit system(

Special Refund



23

4anner to claim special refund

claim within months from appointed date

for special refund K R4$&1&&&1 re.uire audit certificate signed by a

chartered accountant

for special refund L R4$&1&&&1 re.uire audit certificate signed by an

approved company auditor

use special form to claim refund online(

to be given in eight+( e.ual instalments over a period of two years

to account as output ta) if special refund is claimed and goods arereturned

Special Refund



24

Reduce special refund to %&

%& method(

purchase goods from non licensed manufacturers

goods are sub=ect to sales ta)

holds invoices which does not show sales ta) has beencharged

claimant is a registered mandatory( person

hold goods on appointed date for ma<ing ta)able goods

Special Refund

i l f d



25

%& method

reduce the actual purchase price by +& for goods held onhand on appointed date

Special refund H actual price ) %& ) sales ta) rate

>)ample*3urchase R4$01&&& of raw materials but holds R4$&1&&& on

appointed date

Special refund H R4$&1&&& ) %& ) $&

H R4%&&

Special Refund



26

End of Presentation

Royal MalaysianCustoms

INOIR



i( Metua Setiausaha1

3erbendaharaan 4alaysia

3e=abat 3erla<sanaan GST1Momple< Mementerian Mewangan1

No#01 3ersiaran 3erdana1

3usat 3entadbiran Mera=aan 3erse<utuan 4alaysia1

%0, 3TRA/AA#

Tel * &5-+++%5&&&

ii( GST 3?RTA@ " http*77www#gst#customs#gov#my

iii( Customs Call Centre CCC(

Tel* &5- 9+&9%&&

Fa)* &5- 9+&90,,

>mail* cccEcustoms#gov#my

INOIR

mailto:[email protected]

mailto:[email protected]

transitional issues akmal kelantan

Documents