QUOTE(Pink Spider @ Nov 25 2014, 09:23 AM)
felix,
If u know your GST...
Who are renting those offices? Must be businesses...cannot be Ah Meng Ahmad Ah Singh renting for own stay.
When u are doing business AND registered with Customs for GST, u can CLAIM BACK your GST paid (except for property developers and medical companies/hospitals).
E.g.
felix do business sell Felix The Cat merchandises in Malaysia, rents office at UOA Jalan Pinang. Rental paid per month RM50,000. GST on rental is RM3,000. U pay RM53,000 to UOA.
Then u sell goods to customers, total sales RM200,000. GST collected from customers RM12,000.
U pay RM12,000 less RM3,000 = RM9,000 to Customs
The GST is not your cost of doing business. Businesses are merely TAX AGENTS for Jabatan Kastam.
End user i.e. consumers are the ones who bear the GST, cannot claim back. Businesses can claim back.
If u know your GST...
Who are renting those offices? Must be businesses...cannot be Ah Meng Ahmad Ah Singh renting for own stay.
When u are doing business AND registered with Customs for GST, u can CLAIM BACK your GST paid (except for property developers and medical companies/hospitals).
E.g.
felix do business sell Felix The Cat merchandises in Malaysia, rents office at UOA Jalan Pinang. Rental paid per month RM50,000. GST on rental is RM3,000. U pay RM53,000 to UOA.
Then u sell goods to customers, total sales RM200,000. GST collected from customers RM12,000.
U pay RM12,000 less RM3,000 = RM9,000 to Customs
The GST is not your cost of doing business. Businesses are merely TAX AGENTS for Jabatan Kastam.
End user i.e. consumers are the ones who bear the GST, cannot claim back. Businesses can claim back.
End result, GST your Net Profit, not GST your cost.
Nov 25 2014, 09:27 AM

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