Thursday, March 26, 2015

GST DG Decision No. 2/2015

The Royal Malaysian Customs Department (RMCD) has issued the decision on GST Director General's (DG) Decision 2/2015. The GST issues related to the following:-

1. Small Office Home Office (SOHO)
2. Supply of commercial property by the developer to purchaser under an agreement for a period that begins before the effective date and end on or after the effective date.
3. Eligibility for deemed Input Tax under Regulation 47 of the GST Regulations 2014.
4. Claiming special refund of sales tax goods held on hand on 1 April 2015.
5. Whether a debit note is allowed to be issued in order to recover the GST amount during transitional?

It also includes amendment of the previously issued GST Frequently Asked Issues on :-
1. Claiming bad debt relief
2. Foreign Exchange
3. Motor cars used exclusively for business purposes as approved by the DG.
4. Gift rule.

The DG has confirmed that the following goods do not qualify for a special refund:
(a) goods which have been sold and subsequently repurchased (buy back) by the supplier or returned to the supplier before 1st April 2015;
(b) petrol Ron 95 and diesel; AND
(c) The goods listed under the GST (Zero Rated Supply) Order 2014

Source : RMCD website