ICT For Growth - GST Slides

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ICT FOR GROWTH
GST
ITS IMPACT TO YOUR COMPANY OPERATION

ICT FOR GROWTH
Ends on Start of GST
5%, 10%, Specific
Collected at manufacturer level
Ends on Start of GST
6% Specific
Collected at Services to Customer

ICT FOR GROWTH
Start: 1stApril 2015
Must register by 31/12/2014
Mandatory:
Sales > RM500,000 a year
Late Registration Penalty: RM1,500 per 30 days.
Voluntary:
Sales < RM500,000 a year
Can claim input tax
Competitive strategy

ICT FOR GROWTH
Sales less than RM500,000 a year. Why register GST?
Your Customer (GST Company)
Your Company (Non GST)
Your Supplier (GST Company)
Sell to you at RM10,000 cost + RM600 GST
You paid RM10,600
This is your cost
You customer must pay RM10,600 cost. He cannot claim input tax
Your Competitor (GST Company)
Pay RM10,000 cost plus RM600 GST.
( He claims RM600 as input tax)
Pay RM10,600. Which is RM10,000 plus RM600 GST.
He claims RM600 as input tax.
His cost is RM10,000
Your competitor more competitive.

ICT FOR GROWTH
No GST
ZERO RATED GST
GST EXEMPTED

ICT FOR GROWTH
INPUT TAX AND OUTPUT TAX

ICT FOR GROWTH
STANDARD RATED

ICT FOR GROWTH
ZERO RATED
GST EXAMPTED

ICT FOR GROWTH
REGISTER HERE: WWW.GST.CUSTOMS.GOV.MY/TAP
Get your:
User name
Password
Kod kebenaran GST
( Use this for eVoucher Registration at SME Corp website)
Understand MSIC Code

ICT FOR GROWTH
http://gst-evoucher.smecorp.gov.my/gst/
Register

ICT FOR GROWTH
http://gst-evoucher.smecorp.gov.my/gst/

ICT FOR GROWTH
Taxable Period
<RM5 millions
Annual taxable Supplies
>RM5 millions

ICT FOR GROWTH
GST Accounting Basis
Payment Basis
Invoice basis
Business in Cash basis
Output Tax is accounted when payment received
Input Tax can be claimed when payment is made.

ICT FOR GROWTH
GST Returns
GST Refund

ICT FOR GROWTH
GST Returns
April
May
June
July
Sales < RM 5 millions a year
Pay GST
April
May
Sales > RM 5 millions a year
Pay GST

ICT FOR GROWTH
21 Day Rule
April
May
Issue DO
If Issue Invoice within 21 days, the effective date is on the invoice date
If Issue Invoice after 21 days, the effective date is on the DO date
21 day rule

ICT FOR GROWTH
GST Returns –GST-03

ICT FOR GROWTH
Input Tax Mechanism

ICT FOR GROWTH
Full Tax Invoice

ICT FOR GROWTH
Simplified Invoice ( RM500 or less per receipt )

ICT FOR GROWTH
Input Tax cannot be claimed

ICT FOR GROWTH
If price include GST: say RM100.

ICT FOR GROWTH
Why Tax Invoice is important
What is Tax Invoice

ICT FOR GROWTH
Practical GST Issues:
1. Review your suppliers
2. Review your sales and contracts
3. Review Cash Flow
4. Review Credit Terms
5. Implication on invoicing (pay GST)
6. Implication on Bad Debt ( with suppliers)
7. Implication of Bad Debt ( with customers).
8. Implication of Input Tax (input tax credit, blocked input tax)
9. Implication of Output Tax ( gift, samples)
10. Implication on Human Resource (know GST)
11. Implication on Accounting System

ICT FOR GROWTH
Celik GST Seminar:
Detailed explanation on GST practical issues and business preparation.
Types of registration
Group Registration
Deemed Supply
Import Services
Customs Form 1
MSIC Code
Blocked Input tax
Apportionment of Input tax
Refund of Input Tax
Repayment of Input Tax
Credit note
Debit Note
Bad Debt
Record Keeping

ICT FOR GROWTH
Funding

ICT FOR GROWTH
Funding
12-months
OfficeCentral
eTrax, training
RM750
eVoucher
24-months OfficeCentral, Training
RM1,000

ICT FOR GROWTH
In Control
all the time
Anywhere
Anytime

ICT FOR GROWTH
Easy to Use
Very Affordable
Access from anywhere
Access anytime
Always the latest version

ICT FOR GROWTH
Dashboards

ICT FOR GROWTH

ICT FOR GROWTH
Chart of account in Tree View
Unlimited Depth Project Accounting
Pre built Chart of Accounts – saves set up time

ICT FOR GROWTH
Profit and Loss
Balance Sheet
Detail Report

ICT FOR GROWTH
Accounting Report

ICT FOR GROWTH
Accounting Ratios

ICT FOR GROWTH
GST Accounting

ICT FOR GROWTH
CRM –Manage Your Marketing Activities

ICT FOR GROWTH
Customer Relationship Management in the Cloud
E-Mail Marketing
SMS Marketing

ICT FOR GROWTH
Point of Sales -Restaurant

ICT FOR GROWTH
SPAKITA.com

ICT FOR GROWTH
MDEC Score+ Rating 4.0
WINNER:
BEST SOFTWARE FOR SME
(OFFICECENTRAL)
FINALIST:
BEST SOFTWARE - TENDERASIA
Awarded MGS Grant
AWARDED MTDC BUSINESS GROWTH FUND.
MTDC INVESTEE COMPANY
Authentic Venture Sdn Bhd
45

ICT FOR GROWTH
Initiatives:
Opportunities Directory –SME Corp – 700,000 SMEs in Malaysia.
Telekom Malaysia -TM SME –Marketing of TM SME Cloud Solutions.
Jaring–Cloud Solution.
Tendersacross Asia.
Local Manufacturer Directory. Government purchase from Overseas manufacturers.

ICT FOR GROWTH
Initiatives:
Entrepreneur Coaching Club
(Entrepreneurs Coaching for Success
Start:1stJuly 2014, Every Week, Tuesday, 14:00-17:00
NEF/myNEF Office –Empire Damansara)
Book: How I made my first million.

ICT FOR GROWTH
Technopreneur
Ir. Aziz Ismail
CEO, Founder, Malaysian, age 53. Graduate in Electronic & Electrical Engineering (United Kingdom) and Master in Business Administration (Universiti Malaya).
Professional/Social:
President (Past) TeAM, Technopreneur Association of Malaysia.
Vice President II NEF, Bumiputera ICT Association, Chairman Go Global
Chairman, MSC Local Advisory Panel, Domestic Direct Investment
Cluster Leader (Past) , Majlis Perundingan Melayu, MPM –NGO. Business Services Cluster Leader.
Ahli Majlis, Cluster Leader, MTEM, Majlis Tindakan Ekonomi Melayu.
Council Member, NIC, National Innovation Council, Chaired by Prime Minister. Member of NITC.
Chairman ICT (Past) , Exco PPIPBM (Past) , Malaysian Bumiputera Manufacturers Association
(Past) President Instrument and Control Society Malaysia
(Past) President Asia Pacific Federation of Instrument Societies
Industry Expert Panel University Technology Petronas Malaysia, UTEM
Professor Adjunct UUM, Ahli Majlis Faculty UIA
External Examiner University Technology Petronas Malaysia
Secretary, Council (Past) –ASAS Alumni Association Malaysia, Director –ASAS Koop
Approval Committee (Past) –MDEC MGS Grant Approval, Pre Seed, CradleFund Approval Committee (Past).
Judge –Microsoft Imagine Cup, APICTA Award, Malaysia and International. Malaysian Universities ICT Competition
Professional Engineer, MIEM, Board of Engineers
Invited Speakers, MDEC, MPC, PPIPBM, MARA, TeAM, WENA, NEF, Associations, Bernama, TV3.
Previous Working Experience:
CEO Digital Aura Sdn Bhd –Software Solutions
CEO Foxboro USA (Malaysia operation) –Industrial solutions
GM Progressive Impact ( Currently public listed) –Technology
Manager –Honeywell USA ( Malaysian operation) –industrial solutions
Lead Control Engineer –TNB ( Power Utilities)

ICT For Growth - GST Slides

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ICT For Growth - GST Slides