Today SME Corp have announced the implementation process for the GST eVouchers for SMEs in Malaysia. If you are SMEs then you should get interested to know more about this. I have prepared this information to help you
1. The GST implementation is part of the law.
If you run a SME company and your sales is more than RM500,000 a year, it is compulsary that you register your company as GST company.
You can read the details here ( click the link ). http://gst.customs.gov.my/en/rg/SiteAssets/specific_guides_pdf/GST%20Registration%20Guide.pdf
2. What is my annual sales is less than RM500,000?
Legally you are not required to register as a GST company. However, if your sales is less than RM500,000, it is still good to register your company as a GST company if most of your customers are GST registered company. What actually happens is your customer can claim the GST paid to you as part of their process of claiming input GST tax. If you are not GST company, then they cannot claim the cost as GST input tax claim if they purchase from you.
3. How to register as GST company?
The registration of your company as a GST company can be done at customs department via website gst.customs.gov.my.
You will need to fill up the online form. It will include information about your company, shareholders and sales value. The grant will be given to company having more than 50% Malaysian ownership. The Form 49 will show the shareholding details. The Annual report will show the sales value for the company. You can also submit management report that shows the sales value. This website will give you the reference number which you will use for the eVoucher application in the SME Corp website.
4. How to apply for eVoucher from SME Corp?
The government have entrusted the grant for GST compliant software to SME Corp. What the SME should do is to get the eVoucher for GST from SME Corp website. You need to register your company in this website and input your email address. You will need to input the GST reference number given to you during the GST registration exercise earlier. The system will send automated email to your registered email address. Click this email to activate your account. Once activated you can download your GST eVoucher.
5. What is the eVoucher value?
The government is allocating RM1,000 per eVoucher. Basically each SME will be eligible for RM1,000 GST accounting software grant that they can use to purchase GST accounting software. In total the government have allocated RM150 millions for the eVoucher. We envisage that 150,000 SMEs will be using this eVoucher.
5. How do I use the eVoucher with the GST Software supplier company?
Once you print the eVoucher, you can use it to purchase the GST Accounting software. You need to up the purchase order form provided by the company, sign up the invoice and sign up the software delivery order. The company also will provide training where you will need to sign up the training form that proves that you have received the training.
The GST Accounting company will use the forms mentioned earlier as the evidence to claim their repayment of the eVoucher from SME Corp.
If the package is RM1,o00, then the eVoucher which is worth RM1,000 is enough to purchase the GST accounting package. No need to pay extra money.
6. What is the GST Standard Package from OfficeCentral?
OfficeCentral have launched special package for GST accounting which is priced at RM1,000. Basically you do not need to get any extra money from your company to pay for this package. the eVoucher is enough to pay for the package.
The package from OfficeCentral include the following:
1. 2 user license for OfficeCentral for 24 months. ( This is worth RM1,200 under normal retail price)
2. 1 day training for OfficeCentral. ( This is worth RM300 under normal retail price)
3. 1 day training for OfficeCentral GST accounting worth RM300. ( This is worth under normal retail pricing)
In all you will receive a package worth RM1,800 under normal retail pricing.
By using the eVoucher you will receive everything above without paying from your own company pocket
7. I am not sure how to register as GST company, Can you help me?
Yes, we understand many of the SMEs will be needing a lot of help during this exercise. Please contact us and our support team will help you to register your company as GST company. You will need to make available the documents required by the government like Annual Return and Form 49.
8. I am not sure how to use the eVoucher. can you help me?
Yes, we understand many SMEs will be needing a lot of help how to purchase using the eVoucher. Please contact our support team and we will help guide you to use the eVoucher to make your purchase. You will need to sign the required document like purchase order, invoice, delivery order and GST training evidence.
9. How to contact your team?
Our team can be contacted at the following:
Phone: 03-89221493 and 03 89200672
You can also contact individual sales team phone numbers in the OfficeCentral brochures.