Transitioning from GST to SST | All You Need to Know – Knowledge Base

Hi everyone,

Here’s a quick update to inform you on our progress to help you transition over to SST beginning 1 September 2018.

IMPORTANT Financio Updates:

Beginning 1^st September 2018, the new SST codes with revised rates will be rolled out into your Financio system. The new SST codes are as follow:

The Accrual basis related taxes will be charged directly into your SST Input and Output Tax account while the Cash basis related taxes will be charged temporarily to your SST Payable account until payments are received then those charges will be moved to your SST Input and Output Tax account.

To activate your SST in Financio, go to Control Panel > Taxes > Add New > Select SST. Fill in all the required information and you are good to go!

What’s Next – Our team is currently ironing out a few more hotfixes such as the displaying of SST Registration Number on invoices and bills as well as the SST report for submissions.

Note: If you are previously GST registered and is taxable under the SST requirements, an SST account would be automatically generated for you. An email should be sent to you containing more details. To check your SST status, you may visit: https://sst01.customs.gov.my/account/inquiry

To register a new business, you may visit - Sales Tax or Service Tax

Quick Links - SST Resources:

Customs Call Center:

Tel : 03-7806 7200 / 1-300-888-500
Fax : 03-7806 7599
Email: ccc@customs.gov.my

Wrapping up with GST

Please be informed that pursuant to Section 6, Goods and Service Tax (Repeal) Act 2018, all GST Registrants are required to submit the GST-03 Return on the final taxable period and make full payment for the amount of tax payable in connection with the supply, for the last taxable period within 120 days from 01.09.2018. Please refer to the following schedule for better understandings:-

If you have any concerns or enquiries, do reach out to our team by commenting below, via email at support@financio.co or through our in-app chat function. We’ll attend to them soonest possible.

Operation Hours:
Mon-Fri, 8.30am – 5.30pm

Regards,
Travis Tai – Community Manager

Official comment

Benjamin George

September 04, 2018 03:21

Hi Jimmy,

Thanks for your interest! We are actually currently looking into hosting our very own SST workshop, conducted by our in-house product guru. Stay tuned and we'll be updating everyone soon!

Regards,

Travis Tai - Community Manager

Jimmy Choy

September 04, 2018 03:03

I'm a small business owner and believe that my business doesn't require to register for SST as per article. However, I was wondering if anyone in the community have any advice or recommend any trustworthy links or workshops to understand the impact of SST to my business?

September 24, 2018 06:08

We do not have any workshops available for this. Nevertheless, you may refer to https://mysst.customs.gov.my/ directly for more information.

Regards,
Travis Tai - Community Manager

Transitioning from GST to SST | All You Need to Know

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