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GST Exempt Supply, Relief & Zero Order is out!

The final and most important gazette order was issued yesterday

Click here to download all three.

Other than the GST Act itself, zero rated and exempt supply order is the most important piece of GST law.[br]

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Here is why it is so important : 

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“Gazette” is a legal process where the official documents come into force. Gazetting of the list of standard and exempted supply items dictates which industry will be regarded as mixed supply and which will be purely standard rated and zero rated.

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Company with mixed supply will have more extensive GST preparation and need more implementation work, in view that the portion relates to exempt supply will be excluded from the claim of input tax credit. As a result the additional work needed include extensive price impact studies, capital goods adjustment and refined tax code identification and tracking its exempted supply transaction for allocation of input tax has to be done with care.

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The complication arising from being a mixed supply business, requires more extensive GST tax planning for the company to manage the escalated risk of non-compliance and the penalties.

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[alert color=”red”]
[br]PS: In case what was stated above sounds Greek to you: Do start to plan for your GST learning path. You might want to attend Dr Choong Kwai Fatt’s high impact and extensive GST seminars:
[br]
– GST Intermediate to be held on 20 November 2014; and
– GST Advanced on January 2015.
[br]

GST Intermediate
[br]
This is the entry level to GST comprehension and implementation. It is the most popular paid GST course, attended by more than 1,800 delegates all over Malaysia. This seminar is created to provide understanding of the rule and regulation governing GST. Thereafter during the seminar he will reveal the highly sought detailed step by step approach to implementing GST in the company, with common pitfall and error clearly indicated. Click here to find out more.
[br]
GST Advanced
[br] This is the enhanced level to GST. It focused on providing tax planning ideas for the companies. Well thought of GST tax planning opportunity conducted only once each year. It is an exclusive seminar. With limited seats open for registration in each session. Click here to find out more.[/alert]

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Click the button below to download respective gazette order :[br]

[one_third last=”no” text_align=”text-align-center”]exempt[button link=”https://powerfulmanager.com/wp/wp-content/uploads/2014/10/GST-Exempted-supply-Order-2014.pdf” target=”_blank” shape=”square” size=”small” outline=”yes” color=”black”]Exempted Supply[/button][/one_third] [one_third last=”no” text_align=”text-align-center”]exempt[button link=”https://powerfulmanager.com/wp/wp-content/uploads/2014/10/GST-Zero-rated-Order-2014.pdf” target=”_blank” shape=”square” size=”small” outline=”yes” color=”black”]Zero-Rated [/button][/one_third]

[one_third last=”yes” text_align=”text-align-center”]exempt[button link=”https://powerfulmanager.com/wp/wp-content/uploads/2014/10/GST-Relief-Order-2014.pdf” target=”_blank” shape=”square” size=”small” outline=”yes” color=”black”]Relief[/button][/one_third]

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Download all three gazette order by clicking this button : [button link=”https://powerfulmanager.com/wp/wp-content/uploads/2014/10/ZeroExemptOrder.zip” target=”_blank” shape=”square” size=”small” outline=”yes” color=”black”]Download all 3 Orders[/button]

 


 

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