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Consigment Sales
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Consigment Sales
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?
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
Re: Consigment Sales
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?
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
Join date : 2015-03-13
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