Malaysia GST Forum
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Malaysia GST Forum

A forum for all to discuss GST issues

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Turnover Below RM500,000 subequent to GST registration EmptyFri Jul 03, 2015 9:34 am by joseph

» Industrial Diesel
Turnover Below RM500,000 subequent to GST registration EmptyFri Jul 03, 2015 9:11 am by joseph

» ICT industry
Turnover Below RM500,000 subequent to GST registration EmptyFri Jul 03, 2015 9:10 am by joseph

» Input Tax (Passenger Car for business purpose)
Turnover Below RM500,000 subequent to GST registration EmptyMon Jun 29, 2015 5:25 pm by joseph

» Conditions to Claim Input Tax
Turnover Below RM500,000 subequent to GST registration EmptyMon Jun 29, 2015 3:12 pm by joseph

» Additional industry code
Turnover Below RM500,000 subequent to GST registration EmptySun Jun 28, 2015 5:53 pm by joseph

» Sales Commisions
Turnover Below RM500,000 subequent to GST registration EmptyFri Jun 26, 2015 7:44 pm by Poon1

» Advance payment for services not rendered yet
Turnover Below RM500,000 subequent to GST registration EmptyThu Jun 25, 2015 4:13 pm by joseph

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

» Consigment Sales
Turnover Below RM500,000 subequent to GST registration EmptyWed Jun 24, 2015 6:00 pm by joseph

» GST Accounting Entries
Turnover Below RM500,000 subequent to GST registration EmptyTue Jun 23, 2015 10:21 pm by joseph

» Advance payment received from Customer
Turnover Below RM500,000 subequent to GST registration EmptyTue Jun 23, 2015 5:45 pm by joseph

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Turnover Below RM500,000 subequent to GST registration

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Malaysia GST Forum :: Specific Topics :: Others

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Turnover Below RM500,000 subequent to GST registration Empty Turnover Below RM500,000 subequent to GST registration

Post by Evon Wed Jun 24, 2015 2:45 pm

Hi,

Scenerio 1:

During GST registration, the company expecting the turnover will be above RM500,000.00.The basis to determine is based on previous 12 months turnover figure achieved.
Subsequent to GST registration, if later turnover achieved by the company is below RM500,000.00.
Can the Company inform Custom office to withdrawn from GST registration?

Scenerio 2:

The Company is under quarterly submission for GST as expecting turnover is below RM5 Million at the time of registration.
In view of successfully being awarded a contract, the Company expecting its turnover will be above RM5 Million.
Should the company inform Custom office to change from quarterly to monthly submission?

Evon

Posts : 27
Join date : 2015-03-13

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Turnover Below RM500,000 subequent to GST registration Empty Re: Turnover Below RM500,000 subequent to GST registration

Post by joseph Wed Jun 24, 2015 6:16 pm

1) Customs have a rule, once registered, stay registered for 2 years. However, that applies to voluntary registration only.

Write in to Customs to apply for cancellation by completing the form: GST - Adm 12 available here:
http://gst.customs.gov.my/en/rg/Pages/rg_fm.aspx

2) Yes, inform Customs as soon as you have knowledge the RM5m threshold is achievable.

joseph

Posts : 277
Join date : 2014-09-25

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