GST: How to calculate GST for margin scheme?

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Question: How to calculate GST for margin scheme?

Version: 1.8 / 1.9


Answer:

For Margin Scheme, the GST is calculated based on margin earned only.

GST is calculated as below:

Selling price (RM10,000)

Cost (RM5,000)

Taxable amount = Selling price – cost
               = RM 10,000 – RM 5,000 = RM 5,000


RM 5,000 is inclusive of GST, the GST will be

RM5,000 X 6/106
= 283.02


Margin scheme1.png


By: Mei 171110, KM 171114, P171120


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