TAX301 Tutorial Q1 Explain, with reasons, whether sales and services tax (SST) is applicable and or claimable for each of the following transactions Where SST is applicable, compute the output tax arising and state by when should the payment be made, Siswa Sdn Bhd (SSB), a SST registrant, had an annual turnover of RM650,000 for the year ended 30 th November 2019 It sold to Rabia Sdn Bhd (RSB) tiles amounting to RM11,000 (inclusive of SST) on the 20 th of February 2020 SSB received payment on the 16 th of March 2020 Jeffrey Ltd is an overseas company involved in the provision of design services SSB receives an invoice for an amount equivalent to RM12,000 from Jefrey Ltd for design services relating to SSBs products SSB imported a machine at a cost of USD20,000 The machine is used to manufacture pulleys for resale (which is a taxable supply) On the date of importation, the foreign exchange rate per the Royal Malaysian Customs was RM4 for USD1, and the commercial bank exchange rate was RM380 for USD1 Using the machine imported, 2000 pulley sets were manufactured 240 of the pulleys were sold to Sentiasa Cekap Bhd at RM350 per pulley set on 24 th June 2020 SSB gave a cash reward of RM5,000 to two of its employees for their service excellence during the companys annual dinner There is a provision for service awards in the employment contract

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TAX301 Tutorial Q1 Explain, with reasons, whether sales and services tax (SST) is applicable and/or claimable for each of the following transactions. Where SST is

TAX301 Tutorial

Explain, with reasons, whether sales and services tax (SST) is applicable and/or claimable for each of the following transactions. Where SST is applicable, compute the output tax arising and state by when should the payment be made,

Siswa Sdn Bhd (SSB), a SST registrant, had an annual turnover of RM650,000 for the year ended 30^th November 2019.

It sold to Rabia Sdn Bhd (RSB) tiles amounting to RM11,000 (inclusive of SST) on the 20^th of February 2020. SSB received payment on the 16^th of March 2020.
Jeffrey Ltd. is an overseas company involved in the provision of design services. SSB receives an invoice for an amount equivalent to RM12,000 from Jefrey Ltd. for design services relating to SSBs products.
SSB imported a machine at a cost of USD20,000. The machine is used to manufacture pulleys for resale (which is a taxable supply). On the date of importation, the foreign exchange rate per the Royal Malaysian Customs was RM4 for USD1, and the commercial bank exchange rate was RM380 for USD1.
Using the machine imported, 2000 pulley sets were manufactured. 240 of the pulleys were sold to Sentiasa Cekap Bhd at RM350 per pulley set on 24^th June 2020.
SSB gave a cash reward of RM5,000 to two of its employees for their service excellence during the companys annual dinner. There is a provision for service awards in the employment contract.