GST: How to calculate GST for margin scheme?: Difference between revisions
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'''Question:''' How to calculate GST for margin scheme?
<b>Version:</b> 1.8 / 1.9
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Latest revision as of 06:10, 19 February 2020
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
By: Mei 171110, KM 171114, P171120
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