GST System Changes Newsletter
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- Category: GST System Changes Reference Documents
Reference Documents for GST System Changes
There are reference documents published by Royal Malaysian Customs Department (RMCD). Organizations shall follow and apply recommendation from the industry guides and the following guides to bring changes to their systems.
The reference documents used for GST System Changes:-
- Guide to Enhance Your Accounting Software to be GST Compliant (11/09/2014)
- Guide on Tax Invoice and Records Keeping (20/07/2014)
- Explanatory Note on Filling Up GST-03
- Guide on E-Commerce (20/08/2014)
- Guide on Employee Benefits (21/07/2014)
- Guide on Capital Goods Adjustment (15/11/2013)
- List of Approved Accounting Software (22/08/2014)
- Guide on Accounting Software
- Tax Code – This guide gives important information about the recommended tax codes. There are 23 tax codes to be used.
Master Set up for Company Information, Supplier, Customer, Chart of Accounts in Ledger, Bank and Tax Code Table
Determination of Input Tax Recoverable Ratio (IRR)
GST-03 return file format in CSV
GST Audit File requirements
- Tax Invoice and Records Keeping Guide
Types of Tax Invoice – This document explains various types of tax invoices. The tax invoice could split into full tax invoice and simplified tax invoice. The format shall cater for mixed supplies, discount, and tax calculation on GST Output Tax
Credit Note – Adjustment to Tax Invoice
Debit Note – Adjustment to Tax Invoice
- Capital Goods Adjustment – It is the intention on whether the supply on capital item is able to claim GST Input Tax. Organization may refer to this guide on the set up in the fixed asset module in business systems.
Employee Benefits – This guide may help organization to look at their payroll and claim system following the guideline from the document.
Other guides – In order to determine the proper system changes, system consultant may also need to understand other guides to help to determine the proper scope of system changes
- List of approved software vendors – If it is the organization intention to replace their current systems, there are a number of accounting software which are listed as approved software vendor by Royal Malaysian Customs Department.