Update on Goods and Services Tax (GST) General Guide

01eKTP 22

The Royal Malaysian Customs (RMC) has issued two updates to the GST General Guide since 23 December 2015.  The latest updated GST General Guide - revised as at 1 July 2016was uploaded on 4 July 2016.  The changes relate to the following:
 

02Penalty for Late Payment of Tax

Transfer Of Going Concern (TOGC)

• Registration for Transfer of Business as a Going Concern
• Transfer of business Asset as a TOGC.
  

Imported Services

• Time of Supply & Exceptions to the General Rules (Para 88)
• Value of Supply
  

Others

• Mechanism to Claim Input Tax
• Discount Vouchers
• Warehousing Scheme
• Corporate Social Responsibility
• Amount of Tax Due and Payable to the Director General