SQL Accounting Software – GST
SQL Account is GST Certified by the Royal Malaysia Customs Department
Thank you for the Software Developer: E STREAM MSC SDN BHD
What is GST?
Starting 1st April 2015, Malaysia will replace the existing sales and service tax with the goods and services tax (GST) which was announced during the Budget 2014 presentation.
Why GST? In a nutshell, GST is part of the government’s tax reform initiatives to improve the taxation system to be more efficient, transparent and business-friendly.
And part of the package includes the introductory rate of 6%, reduction of corporate income tax rate and more.
Will it affect my business? Most probably.
The affect of GST to the current tax regime may vary from business to business.
This is due to it’s broad-based consumption tax nature imposed at every stage of the supply chain.
Thus, tax payment is made by intermediary parties from product manufacturer to distributors.
Should I start now? Wait. How do I start?
Since the announcement, with a lead time of 17 months, businesses have to grasp the principle and mechanism of the GST.
It is an important first step into understanding the effects of GST and a stepping stone towards being GST ready.
Businesses can do so by enrolling into talks, seminars or workshops provided by various agencies.
Great. What more can I do to prepare?
Being compliant requires training, preparation and getting the right support group. Businesses may also consider using business software such as SQL Accounting as a GST tool.
A GST compliant business software can help keep track of GST records and generate necessary reports for audit or decision making.
For example tax invoices, GST tax returns and etc.
SAMPLE DOWNLOADS & GALLERY
The following are the direct download links to GST reports and documents generated from SQL Accounting :-