GST Treatment: Free Industrial Zone(FIZ) and Licensed Manufacturing Warehouse(LMW)

Free Industrial Zone(FIZ) and Licensed Manufacturing Warehouse(LMW)

Introduction

This guide will teach you the way to key-in the data entry related to GST treatment on FIZ and LMW.

Subject to GST:
FIZ Local sell to FIZ Local → SR
FIZ local sell to LMW Local → SR
FIZ/LMW local sell to non-FIZ/LMW → SR
FIZ/LMW Local sell to Oversea → ZR

For example,

Item	Item Description	Qty	Unit Price (RM)	Value(RM)	Import Duty (RM)
1.	Shirts	300 pcs	25.00	7,500.00	1,500.00
2.	Paints	100 pcs	30.00	3,000.00	600.00
			Total	10,500	2,100.00

Assuming 20% import duty (RM10,500 x 20% = 2,100.00)

GST on value + Import Duty are subject to GST (SR) = (10,500.00 + 2,100.00) x 6% = 756.00

Therefore, the Tax Invoice will be presented as per below:

Item	Item Description	Qty	Unit Price (RM)	Value (RM)
1.	Shirt	300 pcs	25.00	7,500.00
2.	Paints	100 pcs	30.00	3,000.00
	GST (SR-6%)			756.00
	Total Amount Payable			11,256.00

How to enter the Tax Invoice if there is a FIZ/LMW transactions to another party?

Last Customisation Update : 30 Nov 2015

1. Get the NEW database structure for Margin Scheme (in backup format) from this link GST Margin New Database
2. Restore this backup.
3. Enter the user ID and password with “ADMIN” to login.

History New/Updates/Changes

Move Cars Information to Maintain Project
Auto Capture Initial Cost on Select Project

Setup Master Data

Maintain Customer

[Customer | Maintain Customer…]

1. Create new buyer name (eg. company name or person name).
2. Click on Tax tab to input the GST No (if applicable).

02 GST MarginScheme MaintainCustomer.jpg

3. Click on extra tab. You can enter the road tax, inspection and insurance reminder date for reference.

02 GST MarginScheme MaintainCustomer Extra.jpg

Maintain Supplier

[Supplier | Maintain Supplier…]

1. Create new seller name (eg. company name or person name).
2. Click on Tax tab to input the GST No (if applicable).

03 GST MarginScheme MaintainSupplier.jpg

Maintain Stock Item

[Stock | Maintain Stock Item…] 1. Create the car model at Maintain Stock Item. For example, TOYOTA VIOS 1.5G(AT)
2. Click on Vehicle tab to define this item is a "Vehicle".

Maintain Project

[Tools | Maintain Project…] 1. Create the second car plate number in Maintain Project.
2. Update the Vehicle detail.

3. Leave BLANK to Purchase Invoice Date, Purchase Invoice No and Cost. It will auto update when you are select the project code and save at the Purchase Invoice.

Record Purchase of Second Hand Car Value

[Purchase | Purchase Invoice…]

1. Enter the purchase value of second car at Purchase Invoice. (eg. RM30,000 )
2. You must select the correct car plate number from Project. (eg. PGE3333)
3. Supplier GST No, Purchase invoice number, date and cost will be update automatically after you have save the purchase invoice.

Purchase Detail	Update from
Supplier GST No	Maintain Supplier
Purchase Invoice No	Purchase Invoice
Purchase Invoice Date	Purchase Invoice
Cost	Purchase Invoice

NOTE :
1. This information is required to show in Lampiran 07 -Monthly Report for Relief for Secondhand Goods or Margin Scheme (MS).
2. Auto update to project purchase detail (Purchase No, Purchase Date and Cost) if tax amount is zero

Record Sale of Second Hand Car Value

[Sales | Invoice…]

Margin Scheme Input

1. Enter the sale value of second car at Invoice. (eg.RM90,113.69)
2. You must select the correct car plate number from Project.(eg.PGE3333)
3. Initial Purchase Cost will auto upadate after select the project (car plate number).
4. Tax amount will be calculated based on Margin Scheme method.(See screenshot below)

a. Sellng Price = 90,113.69

b. Purchase Cost = 30,000.00

c. Margin = 90,113.69 – 30,000.00 = 60,113.69

d. Tax amount = 60,113.69 x 6/106 = 3,402.66

6. Invoice no, invoice date, selling price, margin, and margin tax amount will be shown in Lampiran 07 -Monthly Report for Relief for Secondhand Goods or Margin Scheme (MS)