GST-03 Return

Form

Download your Goods and Services Tax Return form here for manual submission:

http://gst.customs.gov.my/en/rg/SiteAssets/gst_forms/revised/GST%2003%20-%20GOODS%20AND%20SERVICES%20TAX%20RETURN.pdf

Understanding GST Tax Codes - Part 10

This is the last recommended 3 tax codes 

RS

Supplies which are supply given relief from GST. Example supplies of goods to schools, supply of wheelchairs to private charitable entity for persons with disability.

P.U.(A) 273 - Goods and Services Tax(Relief) Order 2014
​P.U.(A) 59 - Goods and Services Tax (Relief)(Amendment) Order 2015 

Understanding GST Tax Codes - Part 9

Deemed Supply - DS

Goods supplied without consideration attracts GST. For example, goods removed from business for own consumption or private use by a business owner is deemed to have supplied by the business to the owner. Private use of business assets will also attract GST. Gifts below RM500 are not subject to this rule.

Understanding GST Tax Codes - Part 7

The next few parts of this series cover tax codes for supplies of goods and services.

SR

Standard rated goods and services supplied by a registered taxable person. This is also known as output tax.

Understanding GST Tax Codes - Part 6

Let's look at the last 3 tax codes for supplies, TX-E43, TX-N43 and TX-RE which only applicable to GST registered trader that makes both taxable and exempt supplies (or commonly known as partially exempt trader)

TX-E43

Purchase with GST incurred directly attributable to incidental exempt supplies.

Understanding GST Tax Codes - Part 5

GP (Group) and AJP (Adjustments for Purchases)

GP

Purchase within GST group registration, purchase made within a Warehouse Scheme etc.

Understanding GST Tax Codes - Part 4

Purchase of exempt supplies and purchase of goods outside the scope of GST

EP

Purchase of exempt supplies such as toll, public transportation, medical etc.

Description	Dr.	Cr.	Tax Code
Expenses - exempted supplies	Taxi		EP
		Cash

OP

Purchase of goods outside the scope of GST.  Example, purchase of goods from overseas but the goods were sold directly to a customer outside of Malaysia. You are not entitled to claim input tax credit for any VAT or GST charged by the overseas supplier, if any.

Other examples are purchase of a business and transferred as a going concern .

Description	Dr.	Cr.	Tax Code
Purchases - Out of Scope	Purchase		OP
Overseas purchase but delivered to a		Trade Payables
country outside Malaysia

Over to you ..... please send us your thoughts and feedback.

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Previous: Understanding GST Tax Codes - Part 3

Understanding GST Tax Codes - Part 3

Part 3: Purchase of goods under special schemes and blocked input tax

IS

Use this this tax code only if you have been granted approval under Approved Trader Scheme (ATS) and Approved Toll Manufacturer Scheme (ATMS). Under these schemes, GST will suspended when the approved trader imports goods into Malaysia. These two schemes are designed to ease the cash flow of traders who have significant imports.

Understanding GST Tax Codes - Part 1

This is a follow-up on an earlier article entitled Knowing the 23 Tax Codes. Many asked why are tax codes important. This is because the accuracy of the figures in the GST-03 return that you submit to the Royal Customs Malaysia (RMC) on monthly or quarterly basis relies on the tax codes you punched into your accounting system. For example, tax code TX refers to goods and/or services purchased from GST registered suppliers and eligible to claim input tax credit. Then system will then post this figure to item 6(a) and 6(b) of you GST-03 form.

Let's  look at the first tax code for Purchase

Knowing the 23 GST Tax Codes

The Royal Malaysian Customs recommended 23 tax codes to be entered in your accounting software for all GST related transactions. Entering the wrong tax codes will affect the accuracy of your GST-03 return forms.

The Tax Codes can be downloaded here:
https://drive.google.com/file/d/0B43_t_g3IHNzRFY2WmFmOFNjUjg/view?usp=sharing