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For A Consumer - Is these need GST?
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For A Consumer - Is these need GST?
Hi,
As GST is on the way, i still have many question waiting to be answer, and it seems that I can't get the answer from any way/anyone...
I hope someone can help me with below question, i hope to solve the question before GST arrived.
1. About the insurans, announced that medical card, etc., needed to pay GST, excluded Life Insurance, but how about Insurance for saving? This is not medical.
I have ask agent in Hong Leong bank, she say Saving Insurance is like Life Insurance, but the Prudencial agent say Saving Insurance is not like Life Insurance, so what is the real answer?
2. Is say that if you go travel, shopping over RM400, needed to pay GST, but if you stay over 72 hour, GST will no need to pay, is that true?
3. Is the Car Loan need to pay GST?
There is still many more question needed to be answer, for a consumer, i hope to know what I'm paying, i wish i could just get the answer.
Thanks & regards
As GST is on the way, i still have many question waiting to be answer, and it seems that I can't get the answer from any way/anyone...
I hope someone can help me with below question, i hope to solve the question before GST arrived.
1. About the insurans, announced that medical card, etc., needed to pay GST, excluded Life Insurance, but how about Insurance for saving? This is not medical.
I have ask agent in Hong Leong bank, she say Saving Insurance is like Life Insurance, but the Prudencial agent say Saving Insurance is not like Life Insurance, so what is the real answer?
2. Is say that if you go travel, shopping over RM400, needed to pay GST, but if you stay over 72 hour, GST will no need to pay, is that true?
3. Is the Car Loan need to pay GST?
There is still many more question needed to be answer, for a consumer, i hope to know what I'm paying, i wish i could just get the answer.
Thanks & regards
riku1018- Posts : 1
Join date : 2015-03-25
Re: For A Consumer - Is these need GST?
1. About the insurans, announced that medical card, etc., needed to pay GST, excluded Life Insurance, but how about Insurance for saving? This is not medical.
The only insurance premium exempted from GST is for Life Insurance. All other insurance premiums subject to GST.
I have ask agent in Hong Leong bank, she say Saving Insurance is like Life Insurance, but the Prudencial agent say Saving Insurance is not like Life Insurance, so what is the real answer?
Saving insurance is not Life Insurance. Life Insurance must cover the policy holder's life only.
2. Is say that if you go travel, shopping over RM400, needed to pay GST, but if you stay over 72 hour, GST will no need to pay, is that true?
Yes, but depend on types of goods and certain conditions. Please refer Item 9 of the GST (Relief) Order 2014. You can download a copy of the order here:
http://gst.customs.gov.my/en/rg/SiteAssets/gst_order/pua_20141013_P.U.%20(A)%20273-perintah%20cukai%20barang%20dan%20perkhidmatan%20(pelepasan)%202014.pdf
3. Is the Car Loan need to pay GST?
No, it is an exempt supply.
The only insurance premium exempted from GST is for Life Insurance. All other insurance premiums subject to GST.
I have ask agent in Hong Leong bank, she say Saving Insurance is like Life Insurance, but the Prudencial agent say Saving Insurance is not like Life Insurance, so what is the real answer?
Saving insurance is not Life Insurance. Life Insurance must cover the policy holder's life only.
2. Is say that if you go travel, shopping over RM400, needed to pay GST, but if you stay over 72 hour, GST will no need to pay, is that true?
Yes, but depend on types of goods and certain conditions. Please refer Item 9 of the GST (Relief) Order 2014. You can download a copy of the order here:
http://gst.customs.gov.my/en/rg/SiteAssets/gst_order/pua_20141013_P.U.%20(A)%20273-perintah%20cukai%20barang%20dan%20perkhidmatan%20(pelepasan)%202014.pdf
3. Is the Car Loan need to pay GST?
No, it is an exempt supply.
joseph- Posts : 277
Join date : 2014-09-25
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