GST Tax Code: OP(0%)

Explanation about OP tax code and how to fill in form GST-03.

Asked on June 7, 2015 2015-06-07 05:57:53 Business (商家)
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This refers to purchase of goods outside the scope of GST.

An example is purchase of goods overseas and the goods did not come into Malaysia, the purchase of a business transferred as a going concern.

For purchase of goods overseas, there may be instances where tax is imposed by a foreign jurisdiction that is similar to GST (e.g. VAT).

Nonetheless, the GST registered trader is not allowed to claim input tax for GST/ VAT incurred for such purchases.

This is because the input tax is paid to a party outside Malaysia.

GST-03 Field : N/A

Source: http://www.ukm.my/bendahari/wp-content/uploads/2015/04/GST-Compliance-Accounting-Software.pdf

Answered on July 7, 2015. 2015-07-07 05:58:39
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