With the passing of all 5 bills by Dewan Negara, it is now confirmed that GST has been abolished and SST will be re-introduced.
The last date for GST is 31st August 2018. SST will be implemented from 1st September 2018.
Goods & Services Tax
One of the bills that was passed is the Goods and Services Tax (Repeal) Act 2018. Under Section 6 (1) of this act, the final taxable period for GST is 31st August 2018. All GST registered persons are required to account for GST until 31st August 2018.
|Reporting cycle||Reporting period||Remarks|
|Monthly||1st Aug to 31st Aug 2018|
|Bi-monthly||1st Jul 2018 to 31st Aug 2018|
|1st Aug 2018 to 30th Sep 2018||Account for transactions from 1st Aug to 31st Aug 2018 only|
|Quarterly||1st Jun 2018 to 31st Aug 2018|
|1st Jul 2018 to 30th Sep 2018||Account for transactions from 1st Jul to 31st Aug 2018 only|
|1st Aug 2018 to 31st Oct 2018||Account for transactions from 1st Aug to 31st Aug 2018 only|
Final GST taxable period is 31st August 2018. The GST-03 returns and payment for taxable supplies, if any, must be submitted with 120 days of 1 September 2018, i.e. by 29th December 2018.
Sales Tax and Services Tax
If you have not received notification from Customs on being automatically registered for Sales Tax or Service Tax, you can register online at the Customs portal https://mysst.customs.gov.my.
Some useful links on the portal include:
Note that threshold for registration is RM500,000 turnover over 12 months. Businesses are required to register within 30 days of reaching that threshold.