Transcription of Manufacturing - MPMA
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Manufacturing - MPMA
GST FOR BUSINESSES Date: 17 July 2014 Venue: Dewan Perdana MIDA MIDA Sentral Presenter: Fazilah Ariff BAHAGIAN CUKAI KEMENTERIAN KEWANGAN Manufacturing Briefing Agenda Treatment on Manufacturing related to Manufacturing for Manufacturers preparation 2 1 3 GST Treatment on Manufacturing Manufacturing Goods ( furniture, tableware, television) Services ( loan of mould INPUT OUTPUT GST on inputs = Input tax Claimed input tax GST on outputs = Output tax 4 Goods (raw materials, machines and other goods) Services (rental telephone and insurance) Utilities (electricity and water) Manufacturing 5 Liable to register for GST making taxable supplies of goods or services in Malaysia; and business taxable turnover has exceeded the prescribed threshold (RM 500,000 per year) ..section 20 Registration Registration Exemption from registration for those who are making wholly zero rated supplies Example: Sugar refiner, Flour Manufacturer Must apply GST-Adm3 form If approved, input tax incurred CANNOT be claimed Must notify DG of any change in nature of supply within 30 days from the date of change makes standard rated and zero rated supplies tapioca flour (6%), plain flour (0%).)
Manufacturing Goods (e.g. furniture, tableware, television) Services ( e.g. loan of mould INPUT OUTPUT GST on inputs = Input tax Claimed input tax
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