SST Implementation Details
The Sales and Services Tax (SST) has been implemented in Malaysia. The SST threshold for restaurants, cafes, canteens, bars, or any other place that offers something to drink or eat to its customers is RM1,500,000. Any person who does sub-contract work in manufacturing taxable goods and total charges for work performed exceeds the prescribed threshold of RM500,000 within the period of 12 months is exempted from registration irrespective of the total value of sales of taxable goods. You are allowed to claim input tax credit within 120 days after the effective date of SST. The businesses already registered with the GST don’t need to register again for SST. Their data will be transferred to create the SST Malaysia registration. The company can proceed with the voluntary registration provided it is manufacturing taxable goods and is below threshold. If the person is exempt from registration, they can proceed with voluntary registration.
GST Registration and Input Tax Credit
GST registrants are allowed to claim input tax credit within 120 days from when the SST goes into effect. Registered manufacturers and persons must declare SST returns (SST-01) every two months according to the taxable period.
Registration Process and Benefits
The overall registration process is straightforward as it is an online procedure. To login SST into the MySST platform, visit the official MySST login page, click on “Enter” to proceed to the login section, insert your SST Number, User ID and Password in the fields provided, and click “Log In.” Offered as a solution to the complexity of state sales tax, SST provides a simplified registration system that allows businesses to apply for sales tax permits in participating states. Registering for SST can make sales tax compliance in SST states much more streamlined and less burdensome, especially for businesses with a high volume of sales into multiple SST states.