GST Changes on 1st June 2018

Eng YauNews

Quoted from the Federal Government Gazette:-

“IN exercise of the powers conferred by subsection 10(2) of the Goods and Services Tax Act 2014 [Act 762], the Minister makes the following order:
Citation and commencement
1. (1) This order may be cited as the Goods and Services Tax (Rate of Tax) (Amendment) Order 2018.
(2) This Order comes into operation on 1 June 2018.
Amendment of paragraph 2
2. The Goods and Services Tax (Rate of Tax) Order 2014 [P.U. (A) 184/2014] is amended in paragraph 2 by substituting for the words “six per cent” the words “zero per cent”.
Made 16 May 2018
[Perb. R.0.3865/356/1 JLD.17 (SK.3); PN(PU2)721/XI]”

The detailed procedure for the setting configuration to be carried out on the software system would be notified once we received the formal announcement from the GST Division, Royal Malaysian Customs Department.

At the meantime you are still required to submit GST-03 on a timely basis.

Click here to find out more from customs website.

 

Updates on GST Abolishment

Click here to subscribe to get more updates on GST Abolishment

Kindly register yourself to get our up-to-date info on GST Abolishment and further setting in your Accounting system by clicking on above link.