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Industry Guide:


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1. I am a person appointed by a bank to repossess goods from a hirer. What is my GST liability?

Although you may repossess the goods, you are not the actual repossessor. You are only acting as an agent for the bank. Your GST registration status would depend on your total fees earned as well as any other taxable supply you make if any, for the purposes of determination of threshold. If your total turnover exceeds prescribed threshold you need to register for GST. Once registered, you must charge GST on any taxable supply that you make.

2. How about repossession carried out by a court bailiff acting on a court order. Does such repossession attract GST?

The court bailiff also acts as an agent on behalf of the party who succeeded in obtaining judgment from the court. Whether the goods or property repossessed by him attracts GST would also be determined by the GST status of the owner of the said goods or property. The fee the bailiff charges for his service would not be subjected to output tax as he is only carrying out his judicial duties as a bailiff. Such supply is regarded as an out of scope supply for the GST purposes. 

3. In the act of repossession when does the point of supply arise for repossessed goods?

The act of repossession is not treated as a supply. However, when the repossessed goods are sold, the point of supply is the time when the sale takes place and the supply shall be deemed to be made on behalf of the taxable person. 

4. As a repossessor must I need to know more about other aspects of GST?

The following guides may be of interest to you:

(a) Guide on Registration;

(b) Guide on Agents;

(c) Guide on Auction Services; and

(d) Guide on Tax Invoice and Record Keeping.  
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L & Co Plt.

18A & 20, Jalan Sasa 2,
Taman Gaya,
81800 Ulu Tiram,
Johor, Malaysia.

Tel +607-859 0410
Fax +607-863 1003
Kuala Lumpur
15-2, Dinasti Sentral,
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Off Jalan Kuchai Lama,
58200 Wilayah Persekutuan,
Federal Territory of Kuala Lumpur.
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S1-3, 1-21-01,
Suntech @ Penang Cybercity (1575),
Lintang Mayang Pasir 3,
11950 Bayan Baru,
Penang, Malaysia
Tel +604-377 7075
Fax +604-619 2699
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