Announcement: GOODS & SERVICES TAX (REPEAL) ACT 2018

GOODS & SERVICES TAX (REPEAL) ACT 2018

In conjunction to the Goods & Services Tax (Repeal) Act 2018 on 28 August 2018, the appointment date for the Act to come into operation is on 1 September 2018. 

All GST registrant is required to furnish their final GST return for the last taxable period (i.e: July 2018 & August 2018 (for quarterly return) and August 2018 (for monthly return)) within 120 days from the said appointed date (ie: on / before 29 December 2018) pursuant to section 6 of the Goods & Services Tax (Repeal) Act 2018.

Any input tax under the repealed act which has not been claimed before the appointed date shall be claimed in the last return within 120 days from the appointed date, and that claim shall be considered as the final claim for all input tax pursuant to section 8 (1) of the said Act.

Continue of liability

Section 4 of Goods & Services Tax (Repeal) Act 2018: Notwithstanding the repeal of the Goods & Services Act 2014, any liability incurred may be enforced or any goods & services tax due, overpaid or erroneously paid may be collected, refunded or remitted under the repealed Act as if the repealed Act has not been repealed.