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Consigment Sales EmptyFri Jul 03, 2015 9:34 am by joseph

» Industrial Diesel
Consigment Sales EmptyFri Jul 03, 2015 9:11 am by joseph

» ICT industry
Consigment Sales EmptyFri Jul 03, 2015 9:10 am by joseph

» Input Tax (Passenger Car for business purpose)
Consigment Sales EmptyMon Jun 29, 2015 5:25 pm by joseph

» Conditions to Claim Input Tax
Consigment Sales EmptyMon Jun 29, 2015 3:12 pm by joseph

» Additional industry code
Consigment Sales EmptySun Jun 28, 2015 5:53 pm by joseph

» Sales Commisions
Consigment Sales EmptyFri Jun 26, 2015 7:44 pm by Poon1

» Advance payment for services not rendered yet
Consigment Sales EmptyThu Jun 25, 2015 4:13 pm by joseph

» Turnover Below RM500,000 subequent to GST registration
Consigment Sales EmptyWed Jun 24, 2015 6:16 pm by joseph

» Consigment Sales
Consigment Sales EmptyWed Jun 24, 2015 6:00 pm by joseph

» GST Accounting Entries
Consigment Sales EmptyTue Jun 23, 2015 10:21 pm by joseph

» Advance payment received from Customer
Consigment Sales EmptyTue Jun 23, 2015 5:45 pm by joseph

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Consigment Sales

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Post by Evon Mon Jun 22, 2015 2:39 pm

Hi,

For consigment sales (passenger motor car), the consignee is earning commission income upon sales of consigment goods.

My question:

1. Only the commission income he earned will be considered his income and charged to 6% GST and not the gross selling price of the motor car. Is this correct?

2. If the total commission income earned is less than RM500,000.00 although total gross selling price of vehicles is more than RM500,000.00 Does this mean that he don't need to register for GST?

Evon

Posts : 27
Join date : 2015-03-13

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Consigment Sales Empty Re: Consigment Sales

Post by joseph Mon Jun 22, 2015 4:34 pm

Both correct.

joseph

Posts : 277
Join date : 2014-09-25

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Post by Evon Wed Jun 24, 2015 3:53 pm

Hi,

A sole proprietor whom sold 9 cars last year for totalling selling price of RM1.8 Million on consignment sales basis. The commission he earned is RM108,000 in total i.e 6% of selling price.

Would like to as follows:

1. The car selling price or commission he earned to determine the GST threshold of RM500,000?

Evon

Posts : 27
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Consigment Sales Empty Re: Consigment Sales

Post by joseph Wed Jun 24, 2015 6:00 pm

Commission earned.


joseph

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