RMCD releases notice on display prices

RMCD releases notice on display prices

 

The Royal Malaysian Customs Department (RMCD) has released a notice to clarify the display of price tags with effect from 1 June 2018.

The notice provides, among others, the following:

• GST-registered vendors are required to display a notice in an obvious area in their premises that the price tags that used to include the 6% GST has changed to 0% GST.

• GST-registered vendors are given until 1 July 2018 to update their price tags.

• Those who have obtained approval from the Director General to charge GST exclusively need not change their price tags. However, they are not allowed to collect GST since it has been zero-rated.

Kindly visit the RMCD website for further information.

 

Source: RMCD website, 30 May 2018

 

Releases from the RMCD — Revised guides updated, 22 August 2016

Releases from the RMCD — Revised guides updated, 22 August 2016

The Royal Malaysian Customs Department (RMCD) has revised the following guide in its portal:

Industry Guides

• Insurance and Takaful

The Guide on Insurance and Takaful revised as at 22 October 2014 is withdrawn and replaced by the Guide on Insurance and Takaful revised as at 19 August 2016.

No plans to increase GST rate

No plans to increase GST rate
16 August 2016 | Source: Bernama
PUTRAJAYA, Aug 16 (Bernama) — The government will not increase the Goods and Services Tax (GST) rate although a revenue shortfall of RM30 billion is expected this year from the oil and gas industry, said Second Finance Minister Datuk Johari Abdul Ghani.