Goods and Services Tax (GST)

Introduction to GST

GST-bmGST which is also known as VAT or the value added tax in many countries is a multi-stage consumption tax on goods and services.

GST is a broad based consumption tax covering all sectors of the economy i.e all goods and services made in Malaysia including imports except specific goods and services which are categorized under zero rated supply and exempt supply orders as determined by the Minister of Finance and published in the Gazette.

GST is a fairly complex subject and is seen as a nightmare haunting everyone especially the business entrepreneur, company directors and also those involved in GST implementation resulting in increased workloads and tax risks. Whichever approach you adopt, keep it simple to ease the stress!

What you need to do

GST requires businesses who have exceeded the prescribed threshold (currently RM500,000) to register and to keep records of input and output tax. Businesses report their liability in a specific period called taxable period. Explore the following sections to understand your responsibilities and obligations as a registrant under GST.
• Registering your Business
• Issuing Tax Invoices
• Accounting for GST
• Filing Tax Returns
• Input Tax Credit Mechanism
• Claiming GST Refunds
• Paying GST
• Transitional Rules
• Special Schemes Available
• Offences
• Review and Appeals

How we can help

C.F. Ng & Co. is here to help to prepare you and your business for GST which is scheduled to be implemented on 1 April 2015. Our planning will take into consideration your cashflow planning as well as guidelines to make preparation of GST returns as simple as possible.


Among the GST work which we carry out are:-

1. GST mapping services. This is a comprehensive service which would encompass advisory & staff briefing on GST, preparation for GST including taking advantage of all available schemes accorded by Customs, review of existing contracts for GST impact, planning including transitional arrangements, setting up software for GST codes, advisory and implementation.
2. GST registration.
3. GST consultation, audit and advisory services.
4. GST software training (for selected software only).
5. GST preparation and implementation.
6. Accounting services encompassing GST work and filing of GST returns.
7. GST training (for existing clients only).


For information on GST seminars organised by us, [CLICK HERE]