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Refund of Sales Tax for goods held on hand EmptyFri Jul 03, 2015 9:34 am by joseph

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Refund of Sales Tax for goods held on hand

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Refund of Sales Tax for goods held on hand Empty Refund of Sales Tax for goods held on hand

Post by Edin on Mon Jan 26, 2015 12:29 pm

Hi everybody,

My another issue is on Special Refund of sales tax for goods held on hands. One of my company is in quarry business. Material which we have on hands are:
1. Bitumen
2. Bitumen emulsion
3. Cement
4. Aggregates (granite, stone, send, etc)
5. R.F.O.
6. Spare parts for plant and machinery

All of them are used to produce taxable products under GST.

My question: Are those items taxable under Sales Tax Act 1972 or in other words can I claim sales tax on this items above. All of them are purchase from dealers and no sales tax is shown on invoice, so if they are taxable under current sales tax I can use twenty percent method.

Edin

Posts : 11
Join date : 2015-01-02

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Refund of Sales Tax for goods held on hand Empty Re: Refund of Sales Tax for goods held on hand

Post by joseph on Mon Jan 26, 2015 1:40 pm

Check with your suppliers if their supplies are subjected to sales tax. You may also check the sales tax status of your products here: http://tariff.customs.gov.my/

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

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