Who is online?
In total there are 4 users online :: 0 Registered, 0 Hidden and 4 Guests :: 1 BotNone
Most users ever online was 44 on Wed Dec 06, 2023 3:30 am
Latest topics
Statistics
We have 352 registered usersThe newest registered user is molifar
Our users have posted a total of 570 messages in 139 subjects
Search
FOC item (not sample item)
2 posters
Page 1 of 1
FOC item (not sample item)
Hi all,
If we give FOC item to customer, we usually will indicate in the tax invoice as FOC with NIL amount.
Example :
sell mattress RM1,000
FOC pillow NIL (need to calculate GST ? if yes, based on cost or market value ? )
Total before GST RM1,000
GST@6% RM60
Total sales RM1,060
For FOC item (not sample item), do we need to calculate GST and pay custom? Can we treat the consideration paid by customer RM1,060 inclusive of GST covered for both mattress and pillow item?
Thanks.
If we give FOC item to customer, we usually will indicate in the tax invoice as FOC with NIL amount.
Example :
sell mattress RM1,000
FOC pillow NIL (need to calculate GST ? if yes, based on cost or market value ? )
Total before GST RM1,000
GST@6% RM60
Total sales RM1,060
For FOC item (not sample item), do we need to calculate GST and pay custom? Can we treat the consideration paid by customer RM1,060 inclusive of GST covered for both mattress and pillow item?
Thanks.
yvonce- Posts : 4
Join date : 2015-03-10
Re: FOC item (not sample item)
No need to charge GST on FOC items.
joseph- Posts : 277
Join date : 2014-09-25
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|
Fri Jul 03, 2015 9:34 am by joseph
» Industrial Diesel
Fri Jul 03, 2015 9:11 am by joseph
» ICT industry
Fri Jul 03, 2015 9:10 am by joseph
» Input Tax (Passenger Car for business purpose)
Mon Jun 29, 2015 5:25 pm by joseph
» Conditions to Claim Input Tax
Mon Jun 29, 2015 3:12 pm by joseph
» Additional industry code
Sun Jun 28, 2015 5:53 pm by joseph
» Sales Commisions
Fri Jun 26, 2015 7:44 pm by Poon1
» Advance payment for services not rendered yet
Thu Jun 25, 2015 4:13 pm by joseph
» Turnover Below RM500,000 subequent to GST registration
Wed Jun 24, 2015 6:16 pm by joseph
» Consigment Sales
Wed Jun 24, 2015 6:00 pm by joseph
» GST Accounting Entries
Tue Jun 23, 2015 10:21 pm by joseph
» Advance payment received from Customer
Tue Jun 23, 2015 5:45 pm by joseph