Who need to register SST Malaysia?
Is my business liable to register for SST?
- Your business is in the manufacturing industry for taxable goods.
- The total sales value of taxable goods in the past 12 months exceeds RM500,000.
Who should pay SST Malaysia?
The SST has two elements: a service tax that is charged and levied on taxable services provided by any taxable person in Malaysia in the course and furtherance of business, and a single stage sales tax levied on imported and locally manufactured goods, either at the time of importation or at the time the goods are sold …
Who is responsible for Service Tax registration?
Every person who has provided a taxable service of value exceeding Rs. 9 lakhs, in the preceding financial year, is required to register with the Central Excise or Service Tax office having jurisdiction over the premises or office of such service provider.
Who must register for SST?
Usually, a business or service provider working under the Service Tax Act 2018 must register with the SST if the annual value of taxable services exceeds RM500,000. The SST threshold for restaurants, cafes, canteens, bars, or any other place that offers something to drink or eat to its customers is RM1,500,000.
Who qualifies for SST?
Less than $50,000 of Payroll, as defined below, in the SST State; Less than twenty-five percent (25%) of its total Property or total Payroll, as defined below, in the SST State.
Is SST tax deductible?
Expenditure on tax filing fees for SST is eligible for deduction under P.U. (A) 162/2020 for YA 2020 if the services are performed and fee incurred is paid in the basis period for YA 2020. … A deduction is given for YA 2020 if the services are performed and fee incurred is paid in the basis period for YA 2020.
How do I find my SST number?
Step by Step Guide to Check SST Status for A Business
- Step 1: Visit https://www.mysst.customs.gov.my/, click “Registration Status”:
- Step 2: Select one of the Choices:
- Step 3: Key in your company information:
What is the applicable time limit in service tax?
Further, in clause 3(iii) provides that refund claim shall be filed within one year from the end of the month in which actual payment of service tax was made by such developer or SEZ unit to the registered service provider or such extended period as the Assistant Commissioner of Central Excise shall permit.
How is your service tax reverse charge?
When person receiving service is liable to pay service tax under reverse charge, he is not entitled to exemption which is available to a small service provider. Thus, the service receiver is liable to pay service tax even if value of service of service provider is less than Rs. 10 Lakhs.
What happens if service tax is not paid?
If an assessee has not filed his or her service tax return, then a late payment fee of Rs 500 will be charged for the initial 15 days of delay. If an assessee has not filed his or her service tax return, then a late payment fee of Rs 1,000 will be charged for delays ranging from 15 to 30 days.
How do I apply for SST exemption?
(iii) Choose type of exemption under Schedule A > (iv) Choose specific items under Schedule A, read conditions and click “agree” to continue > (v) Fill in the required fields in the application form > (vi) Upon completion, certificate will be produced with certificate number > (vii) Print certificate > (viii) Print …
How does sales tax work in Malaysia?
Sales tax is charged by registered manufacturers of taxable goods and on the importation of taxable goods into Malaysia. As a general rule, goods are subject to sales tax at a rate of 10%, however some goods are taxed at the reduced rate of 5%, specific rates and others are specifically exempt.
How much is the import tax in Malaysia?
Malaysian customs imposes a standard goods and service tax (GST) on imported goods at 6 percent.