An Uncle's Guide to GST for Service Providers

Service providers, like all other businesses, are to include 6% GST in their charges to customers with effect from 1 April 2015. GST has been empirically proven in other countries to be business friendly, beneficial to the people at large, and equitable in many aspects when compared to the sales tax, service tax and even income tax.

Businesses have to comprehend the Malaysian GST model, key concepts and methodology and embed the system into their business operations at the earliest possible time. The guidance of a GST specialist is necessary for a smooth transition into the GST era. Time will demonstrate the benefits of the GST system to the business community as it cuts across all sectors providing a much more equitable business environment.

This book explains the various concepts of GST in an easy to grasp manner with many illustrations and practical examples. The nature and circumstances of the service industry pose various challenges in its implementation of the GST. Of particular concern is the determination of the ‘time of supply' as the tax invoice is to be issued at the time when services are deemed to have been performed.