Import and export of computer software
There are two types of transactions in my business:
1) Import of computer software and sell locally.
Is it correct if i just charged GST on customer who bought the software and is not liable to pay import tax?
2) Import and sell / export to overseas?
Does this transaction incurs any form of tax?
Let me help you clear your doubts :
1) You need to pay import duty on your importation of computer software unless your company falls under the Approved Special Scheme (ATS, ATMS and AJS) where GST is suspended upon importation (tax code IS). Otherwise you need to pay import duty upon declaration / clearance of goods at Customs point (tax code IM). When you sell locally, you need to charge the customer GST standard rate @ 6% (tax code SR).
2) The importation is same as No. 1 above but if you export the goods out of Malaysia, then it is not subject to GST that is zero rated supply (tax code ZRE).