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Disregarded Supply EmptyFri Jul 03, 2015 9:34 am by joseph

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» ICT industry
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» Input Tax (Passenger Car for business purpose)
Disregarded Supply EmptyMon Jun 29, 2015 5:25 pm by joseph

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

» Additional industry code
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Disregarded Supply EmptyFri Jun 26, 2015 7:44 pm by Poon1

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

» Turnover Below RM500,000 subequent to GST registration
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» Advance payment received from Customer
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Disregarded Supply

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Disregarded Supply Empty Disregarded Supply

Post by Admin Sun Dec 14, 2014 12:48 pm

Under certain circumstances a supply of goods or services with consideration may be deemed as not a supply and no GST is chargeable. These supply are called disregarded supply.

The following are disregarded supply:-
1. Supply between members of the same group registration
2. Supply under the warehousing scheme
3. Supply between venture operators and venturers
4. Supply by a toll manufacturer for it's overseas principal.

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Admin

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Join date : 2014-07-30

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Disregarded Supply Empty Re: Disregarded Supply

Post by yvonce Tue Mar 10, 2015 1:14 pm

Hi All,

If a company who is branch for another company (under same company number) has been registered for GST separately under "GST branch registration", the supply from main company subject to GST?

Can this supply called disregarded supply (apply for 1. Supply between members of the same group registration)?

Thank you.

yvonce

Posts : 4
Join date : 2015-03-10

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Disregarded Supply Empty Re: Disregarded Supply

Post by joseph Tue Mar 10, 2015 2:35 pm

Supply within the same company from one HQ/branch to another branch/HQ, whether there is a branch registration or not, is not subject to GST. This inter-branch transfer of goods or services is neither a supply of goods nor services.

The HQ and the branches are, but one same taxable person. Branch registration is to facilitate the submission of GST returns only.

Supply from one company to another company within a group is subject to GST. This supply will be disregarded if there is a group registration for these 2 companies.

joseph

Posts : 277
Join date : 2014-09-25

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Disregarded Supply Empty Re: Disregarded Supply

Post by yvonce Thu Mar 19, 2015 11:54 am

Hi,

Pertaining to inter-branch transfer of goods, can i create another new tax code with 0% to cater for this transaction in accounting system as i will receive tax invoice from main office and pay accordingly.

Thank you.


yvonce

Posts : 4
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Disregarded Supply Empty Re: Disregarded Supply

Post by joseph Thu Mar 19, 2015 12:33 pm

If inter-branch transactions are recorded in your accounting system, better use a separate tax code. And, if possible, such transactions should be excluded in your GST Audit File (GAF file).

joseph

Posts : 277
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