eKTP 22

Update on Goods and Services Tax (GST) General Guide

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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 2016 was uploaded on 4 July 2016.  The changes relate to the following:
 

Penalty 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

Click here for A summary of the changes reprinted from Ctim. We will discuss some of this change in our next eKTP.