GST: What is MSIC code and where can I get my MSIC Code?

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Question: What is MSIC code and where can I get my MSIC Code?


Answer:

MSIC Code is a 5-digit numerical code represents your business nature. It will be used in Form GST-03 (item 19) as Major Industrial Code. You need to assign MSIC Code to all GL accounts that contribute to total value of supplies. For example: Sales account, Cash Sales account, Return Inwards, Other Income etc.., else the value of supplies will be shown in “Ohers” column. If your business involves more than one MSIC codes, they must be distinguished clearly in separate GL accounts.


Msic.png


Note: To get MSIC Code, you may refer this link http://msic.stats.gov.my/bi/, or LHDN Form C, FORM P. You may also contact RMCD to get the MSIC code.


By: Hui Yan 171123, KM 171129, P171206



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