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Industry Guide:

Relief for Second-Hand Goods (Margin Scheme)

 
Please click here to download complete guide.

 

FREQUENTLY ASKED QUESTIONS 

Charging Output Tax 

1. Do I have to account for GST if I sell used motor vehicles at a loss? 

No, GST need not be charged if the sale is at a loss. 

2. What are the implications under the margin scheme?

The seller only accounts for GST on the margin (GST-inclusive) but he cannot claim the GST embedded in the purchase price. 


Claiming Input Tax

3. How does the Margin Scheme affect GST on my overheads? 

You can claim GST on all your business overheads such as office rental and utilities. But you must not add any of these costs to the purchase price of the goods you sell using the scheme. 

4. My supplier charged me GST on parts that I replaced on used motor vehicles purchased under Margin Scheme. Can I claim the GST incurred as my ITC?

Yes, you can claim the input tax incurred. 
 
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L & Co Plt.

Johor
18A & 20, Jalan Sasa 2, Taman Gaya, 81800 Ulu Tiram, Johor, Malaysia.
Tel +607-859 0410
Fax +607-863 1003
Penang
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
 
     

What Our Client Say

     
L & Co always carry their services in professional way – well planning, in time, precise, friendly and professional. While we are stuck with problems, they can always advice us with industrial best practices and their views.
 
YM Tan
ICT Automation (M) Sdn Bhd
www.ict.com.my
 
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