Goods and Service Tax (GST)iCore Technology Sdn. Bhd.
Dear Valued Customers,
Goods and Service Tax (GST)
As you may already be aware, the Malaysian government announced the implementation of the Goods & Services Tax (GST) during the tabling of the 2014 Budget on 25 October 2013. The GST, which will replace the existing sales tax and service tax, will be 6% and effected on 1 April 2015.
Please be informed that we will be charging GST on all applicable goods and services supplied to you. We will also be enhancing our tax invoices issued to you in order to be fully-compliant.
Our company’s GST registration details as follows:
|Company Name||iCore Technology Sdn. Bhd.|
|GST Registration Number||001613316096|
|Effective Date||1st April 2015|
|Type of Supply||Standard Rated 6%|
Which iCore's services are subjected to Goods and Service Charge ?
In accordance with Malaysia GST Act 2014, all of iCore Technology's services are subjected to 6% Standard Rated GST.
Is iCore's service fees inclusive or exclusive of GST ?
With GST comes into effect, all of iCore Technology's products and services price will be EXCLUSIVE of GST. This means that the price amount you see at our package detail page are not the final payable amount, which is subjected to additional 6% of standard rated GST charge in compliance to relevant rules and regulations.
How will my existing service subscriptions with iCore be affected ?
For all of our existing clients, 6% standard rated GST will be applicable after GST comes into effect. Any payment after 1st April 2015 will be subjected to GST charge.
Example 1Subscribed Package : Web Hosting GX20GB Subscriber
Current Annual Service Fee : RM 199.00
New Annual Service Fee after GST : RM 199.00 * 1.06 = RM 210.94 (Add RM 11.94 GST)
Example 2Subscribed Package : VPS70 (Monthly Payment)
Current Monthly Service Fee : RM 120.00
New Monthly Service Fee after GST : RM 120.00 * 1.06 = RM 127.20 (Add RM 7.20 GST)
I received my invoice before 1st April 2015 but I only made payment after 1st April 2015. Will I be charged with GST ?
Any unpaid invoice with due date after 1st April 2015 will be automatically cancelled on 31st March 2015, and new Tax Invoice will be re-generated on 1st April 2015 with GST included and emailed to affected customers. Any payment after 1st April 2015 will be subjected to GST charge. Hence, we recommend our clients to settle their unpaid invoices before 31st March 2015 to avoid GST charge.
What is a Proforma Invoice ? Why am I receiving a Proforma Invoice instead of Tax Invoice upon order confirmation ?
Effective 1st April 2015, all orders placed with iCore Technology will comes with a "Proforma Invoice" which is treated as a "temporary" invoice and act as a order confirmation between buyer and seller (iCore). The "Proforma Invoice" is similar like an official tax invoice, listing all purchased items with respective prices, as well as included GST amount, however, not usable for GST tax claim purpose. As stated in GST Guide provided by Royal Custom Malaysia, a proforma invoice is not regarded as a tax invoice, which you cannot claim your input tax in your GST return without a proper tax invoice.
In order to receive a proper "Tax Invoice", customers are required to make full payment as shown in the Proforma Invoice. Once payment is received and confirmed, our billing system will automatically converts the Proforma Invoice into an official Tax Invoice which can be used for input tax claim purpose.
I have remaining credits with iCore. Will my credit balance being charged GST after 1st April 2015 ?
No. Your credit balance with iCore will remain intact. Since there is no supply of goods and services involved, your credit balance is non taxable under GST scheme.
iCore Technology Sdn. Bhd.