Download - GST Management

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


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


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

http://gst.customs.gov.my/en/ib/Pages/ib_ftr.aspx

Paying GST


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


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


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


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


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


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


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


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


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


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


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


source: http://gst.customs.gov.my/en/rg/SiteAssets/general_guides/Handbook%20Vol1%2002092014%20Master.pdf3 May 2015

http://gst.customs.gov.my/en/rg/SiteAssets/general_guides/Handbook%20Vol1%2002092014%20Master.pdf

Attachment - 2

List of Taxable Goods and Non-Taxable Goods

Attachment - List of Taxable Goods and Non Taxable Goods


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?

http://gst.customs.gov.my/PdfFile.html

http://gst.customs.gov.my/PdfFile.html

Attachment - 3

Guide on eCommerce

Attachment - Guide on eCommerce


source: http://gst.customs.gov.my/en/rg/SiteAssets/industry_guides_pdf/Guide%20on%20E-commerce%2020.08.2014.pdf3 May 2015

Thank you

www.11street.my

Download - GST Management

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