What goes into each box - Malaysia GST-03 Return
The following table shows how NetSuite uses the tax codes to get the values for the Malaysia GST-03 Return.
For OneWorld accounts, all amounts are reported in the base currency of the subsidiary. If you do not have a OneWorld account, amounts are reported based on the currency in the Company Information page.
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Box |
Description |
Value |
|---|---|---|
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PART A: REGISTERED PERSON DETAILS |
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1 |
GST No. |
Company’s VAT number |
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2 |
Name of business |
Company’s name or legal name |
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PART B: RETURN DETAILS |
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3 |
Taxable period |
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|
Start date |
Period start date (based on selected reporting period) |
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End date |
Period end date (based on selected reporting period) |
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|
4 |
Return and payment due date |
Editable field, return and payment due date |
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5 |
Output tax |
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|
5a |
N/A |
Net amount of sales SR-MY, SRA-RC, DS-MY, ZRL-MY |
|
5b |
N/A |
Tax Amount Sales SR-MY, DS-MY, ZRL-MY, AJS-MY + Notional Amount Sales SRA-RC + Tax Amount Sales Adjustment box5b, SR-MY, DS-MY, ZRL-MY, AJS-MY |
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6 |
Input tax |
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|
6a |
Total value of standard and flat rated acquisitions |
Net amount of purchases TX-MY, IM-MY, TX-IES, TX-RE, TX-CG, TX-FRS, SRA-RC, ZP-MY |
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6b |
Total input tax (inclusive of tax value on bad debt relief and other adjustments) |
Editable field, but default value is based on the tax amount of purchases TX-MY, IM-MY, TX-IES, TX-RE, TX-CG, TX-FRS, SRA-RC, ZP-MY, AJP-MY For TX-RE tax amount computation (partial exemption guide): TX-RE tax amount is reclaimable if the following conditions are both true (De minimis rule):
If the above conditions are true, the actual TX-RE tax amount is used in Box 6b. Otherwise, apply input tax recoverable ratio (IRR%) on TX-RE transactions: TX-RE tax amount = (actual TX-RE tax amount)*(IRR%) Where, IRR% = [(Net amount of sales SR-MY + ZRL-MY + ZRE-MY + DS-MY + RS-MY + GS-MY + ZDA-MY + OS-TXM + NTX)/(Net amount of sales SR-MY + ZRL-MY + ZRE-MY + DS-MY + RS-MY + GS-MY + ZDA-MY + OS-TXM + NTX-MY +ES-MY)]
Note:
The value for the IRR% is shown on the detail report for Box 6b. |
|
7 |
GST amount payable (Item 5b – Item 6b) |
Shows GST payable, Box 5b – Box 6b. If the amount of output tax (Box 5b) is greater than the input tax (Box 6b), box shows the result. Otherwise, box shows zero. |
|
8 |
GST amount claimable (Item 6b – Item 5b) |
Shows GST claimable, Box 6b – Box 5b. If the amount of input tax (Box 6b) is greater than the output tax (Box 5b), box shows the result. Otherwise, box shows zero. |
|
9 |
Do you choose to carry forward refund for GST? |
Yes or No |
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PART C: ADDITIONAL INFORMATION |
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|
10 |
Total value of local zero-rated supplies |
Net amount of sales ZRL-MY, NTX-MY |
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11 |
Total value of export supplies |
Net amount of sales ZRE-MY, ZDA-MY |
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12 |
N/A |
Net amount of sales IES-MY, ES-MY (includes net realized foreign exchange gain) |
|
13 |
Total value of supplies granted GST relief |
Net amount of sales RS-MY |
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14 |
Total value of goods imported under approved trader scheme |
Net amount of purchases IS-MY |
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15 |
Total value of other supplies |
Net amount of other supplies GS-MY, NTX-MY, SR-JWS, OS-TXM, OS-MY |
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16 |
Total value of capital goods acquired |
Net amount of purchases TX-CG |
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17 |
Total value of bad debt relief inclusive tax |
Net Amount Purchases AJP-MY |
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18 |
Total value of bad debt recovered inclusive tax |
Net Amount of Sales AJP-MY |
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19 |
Breakdown value of output tax in accordance with the Major Industries Code |
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Code |
Editable field, 5-digit Malaysia Standard Industrial Classification (MSIC) code |
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Value of output tax |
Editable field, value of output tax for each major industry |
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Percentage |
Total percentage must be equal to 100%. |
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