Is your business required to be registered under the GST Act?
Any business that makes taxable supplies in Malaysia, and whose cumulative 12 month taxable turnover exceeds the proposed threshold of RM500,000.00 is required to be registered under the GST Act. Taxable supplies includes both goods and services. Registration is mandatory and penalties apply for late or non-registration.
The criteria is turnover over a 12 month period, and this is calculated using the following methods:
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