Goods and Services Tax (GST)
11street
Strictly Confidential
1. GST Policy2. GST Option In 11street3. Settlement in 11street4. Attachments
1. Handbook for Goods and Services Tax (GST)2. List of Taxable Goods and Non-Taxable Goods3. Guide on eCommerce
Today Agenda
GST Policy
GST Policy
Strictly Confidential
Classification Description
Concept - GST refers to 6% taxation imposed for values generated in relation to goods and services traded within the country.
Taxation Scheme
- Seller in each stage of transaction pays after collecting tax from customer in the next stage, and the value added tax paid in the previous stage is deducted from the tax payment amount.- As redundant taxation for the same added value should be avoided, the value added is transferred to the customer in the next stage and the ultimate consumer gets to pay the relevant tax.- Depending on items, zero rate or exempted rate is applied.
Documentary Evidence - Seller (confined to business seller) should issue a tax invoice for value added tax collected from transactions.
Taxation Type
- Standard Rate: Applies to business sellers/GST (6%) is included in the product price.- Exempted Rate: Applies to individual sellers and global sellers/GST is exempted.- Zero Rate: Tax rate is 0, meaning no GST is applied.- Flat Rate: In case of specific businesses, lower tax rate (less than 6%) than basic tax rate (6%) and GST is included in product prices.
Filling Tax Returns
Strictly Confidential
GST returns must be submitted to the GST office not later than the last day of the following month after the end of the taxable period.
Categories Periods Conditions
Standard Taxable Period Three Months - Applicable to all taxable turnover not exceeding RM5 million
Non-Standard Taxable Period
One Month
- Applicable to taxable persons with annual
taxable turnover exceeding RM5 million- Applicable to other taxable persons on request and subject to approval
Six Months - Special Cases
Last Updated : 15/2/2013 23:27
source: http://gst.customs.gov.my/en/ib/Pages/ib_ftr.aspx3 May 2015
Paying GST
Strictly Confidential
Paying GSTIf your output tax exceeds the input tax, the difference shall be remitted to the Government together with the GST returns not later than the last day of the following month after the end of taxable period. Online payments through:
• Banks (to be appointed)• Internet facilities
Manual paymentPayment via cheque/bank draft/money order must be made payable to 'Ketua Pengarah Kastam' and mail to:
Ketua Pengarah Kastam Malaysia Jabatan Kastam Diraja Malaysia
Pusat Pemprosesan GSTKompleks Kastam Kelana JayaNo.22 Jalan SS6/3 Kelana Jaya
47301 Petaling JayaSelangor
source: http://gst.customs.gov.my/en/ib/Pages/ib_pay.aspx3 May 2015
GST Option in 11street
GST Option in 11street
Strictly Confidential
Individual Seller
Business Seller
Global Seller
Exempted Rate
Non-GST Registered Seller
GST Registered Seller
Flat Rate
Zero Rate
Standard Rate
Note: Seller is responsible for all legal, tax-related consequences arising from selecting “GST”, so please select carefully.
Which GST option should i choose?
???
GST Option in 11street - Policy on Tax Invoice
Strictly Confidential
Classification Description
Issuance Criteria of Tax Invoice
- Can view and print tax invoices based on the purchases-confirmed - Issued based on seller type at the time of issuance. But if an individual seller at the time of
purchase becomes a business seller at completed orders. the time of purchase confirmation, tax invoices are issued.
- Credit notes can be viewed and printed only for cases cancelled by authority after its purchase is confirmed.
Issued Amount of Tax Invoice Tax Invoice Amount = Product Amount – Discount Amount by Seller (Discount by Seller + Amount Paid by Seller out of Discount by 11street)
Printing Tax Invoice
Print functions (buttons) are available for printing tax invoice with COPY mark and without.Seller is responsible for printed materials. 11street provides only functions to print original and duplicate copies of tax invoice.Print buttons are divided into Original/Copy print functions in the tax invoice preview pop-up and in case of printing duplicate copies, invoice will be marked as COPY.Users can manually select the printing form.
GST Option in 11street - How to Set Product Pricing
Strictly Confidential
Example 1: GST Registered Seller, Impose 6% GST to customer Product Selling Price (before GST): RM 100GST (6%): RM 6Product Selling Price (after GST): RM 106
Seller Office > Product Listing > Selling Price
GST Option in 11street - How to Set Product Pricing
Strictly Confidential
Example 2: Other than GST Registered SellerProduct Selling Price (before GST): RM 100GST: Not applicableProduct Selling Price (after GST): RM 100
Seller Office > Product Listing > Selling Price
Settlement in 11street
Settlement in 11street - Seller’s Output Tax Invoice
Strictly Confidential
Instructions
Seller Office > Settlement Management > History Received Tax Invoice
2. Click Search
3. Select listing
4. Click Modify Selling Price
Seller’s Output Tax Invoice and Credit Notes will be issued by 11street (on behalf of seller)
Settlement in 11street - Seller’s Output Tax Invoice
Strictly Confidential
Seller’s Output Tax Invoice and Credit Notes will be issued by 11street (on behalf of seller)Seller Office > Settlement Management > GST Management
Notes
1. Can view and issue tax invoices and credit notes for products sold.
2. Total Sales (at the time of return submission) = Sales Amount + Option Amount + Prepaid Shipping Fee – Seller’s Coupon Discount AmountData are based on the purchase confirmation date. (Purchase confirmation date could be different from Transfer completion date of sales amount.)
3. The data are provided by 11street to guide sellers when they file their tax returns, so they may differ from the criteria of data aggregated by seller for tax return.
4. Please use these data as a reference only.(Additional fee details within the inquiry period are irrelevant to the return of value added tax. They are provided only for the convenience of sellers.)
5. Among purchases by buyers, tax invoices are automatically issued for business seller’s products. (But tax invoices are not issued for products of Individual/Global Sellers.)
6. Tax invoice can be issued by product, and in case there are shipping fees, tax invoice for shipping fees can be issued as well. e.g.) Product A (Free shipping), Product B (Charged shipping), Product C (Charged shipping) 5 tax invoices are issued.
KelvinLevel 25, NU Tower 2, No. 201, Jalan Tun Sambathan, KL Sentral, 50470, Kuala LumpurTel: 0327720000
Settlement in 11street - Seller’s Input Tax Invoice
Strictly Confidential
Instructions
Seller Office > Settlement Management > History Received Tax Invoice
2. Click Search
3. Select listing
4. Click Modify Selling Price
Seller’s Input Tax Invoice will be issued by 11street to seller in 11street for the services provided
Settlement in 11street - Seller’s Input Tax Invoice
Strictly Confidential
Seller’s Input Tax Invoice will be issued by 11street to seller in 11street for the services providedSeller Office > Settlement Management > History Received Tax Invoice
Notes
1. Tax invoices issued once a month for transaction fees (sales amount), advertising (Listing Ads) or other fees (Seller Zone reservations) can be viewed.
Settlement in 11street - Individual & Global Seller VS. Business Seller
Strictly Confidential
GST Management
History Received Tax Invoice
Individual Seller Business SellerGlobal Seller
NA Available Available
Available Available Available
Individual & Global Seller - Seller Office Business Seller - Seller Office
Settlement in 11street
Strictly Confidential
Product Price RM (before GST) GST (6%) (RM) Selling Price RM (include
GST)Note
After 10% transaction fee
100 6 106
90 5.40 95.40 Buyer Settlement
10 (10% of 100) 0.6 (10% of 6) 10.6 (10% of 106) 11street Transaction Fee
How much I need to pay for GST?
Product Selling Price (before GST): RM 100GST (6%): RM 6Product Selling Price (after GST): RM 106Transaction Fee: 10%
Example: GST Registered Seller, Impose 6% GST to customer
Submit by Seller
Submit by 11street Transaction fee including GST
Received by government
Attachment - 1
Handbook for Goods and Services Tax (GST)
Attachment - List of Taxable Goods and Non Taxable Goods
Strictly Confidential
source: http://gst.customs.gov.my/en/rg/SiteAssets/general_guides/Handbook%20Vol1%2002092014%20Master.pdf3 May 2015
Attachment - 2
List of Taxable Goods and Non-Taxable Goods
Attachment - List of Taxable Goods and Non Taxable Goods
Strictly Confidential
source: http://gst.customs.gov.my/PdfFile.html3 May 2015
No CategoryStandard Rate
Rate RateZero Rate Exempted Rate
1 Grocery
2 Food and Beverages
3 Fruits and Vegetables
4 Beauty and Health
5 Household
6 Hardware
7 Kitchen ware
8 Garment, Footwear, Bag and Accessories
9 Medicine
10 Stationery
11 Toy and Games
12 Pets
13 OthersFor more information about the list of taxable goods and non taxable goods, kindly refer to http://gst.customs.gov.my/PdfFile.html
Is my product under Standard Rate, Exempted Rate or Zero Rate?
Attachment - 3
Guide on eCommerce
Attachment - Guide on eCommerce
Strictly Confidential
source: http://gst.customs.gov.my/en/rg/SiteAssets/industry_guides_pdf/Guide%20on%20E-commerce%2020.08.2014.pdf3 May 2015
Thank you
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