With the passing of all 5 bills by Dewan Negara, it is now confirmed that GST has been abolished and Sales & Service Tax (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 & Service 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.