I received this question from Khairul about the GST. Can you folks help answer this question? Thank you.
Say, I'm a trader with all zero-rated items BUT my business turnover exceeds RM500K per annum.
It's easy to reach the threshold since RM500,000/12 months=RM41,667.
If we divide over 30 days = RM1388.88 daily!
If you're selling Nasi Ayam at RM6.00 per plate x 231 servings will push you to GST-able business entity.
Back to my question, the threshold only takes into account RM500,000 per annum of standard rated supplies or otherwise you're non-GST business entity?
Thank you for your reply, Sir. Regards, Karl
Can anyone help out Khairul here?
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