Sales & Service Tax trivia
Sales & Service Tax Proficiency Quiz
Test your knowledge on Sales & Service Tax (SST) with this engaging quiz! Designed for professionals in the finance and accounting sectors, this quiz will challenge your understanding of SST regulations, compliance, and procedures.
Participate to:
- Enhance your knowledge about Sales & Service Tax
- Prepare for certification exams
- Identify areas for improvement in your tax knowledge
When is the effective date for Sales & Service Tax?
1st September 2018
1st October 2018
Please choose the correct answer about Sales & Services Tax
Rate will start from 6% till 10 % and GST are the broader TAX base compare to SST
Rate will start from 5% till 12 % and GST are the broader TAX base compare to SST
Is GST condition record still applicable after September 2018?
Yes
No
Sales & Service Tax Business Scenario : Tax invoice was issued on 15 September 2018 in respect of the provision of electricity granted from 15 August 2018 to 14 September 2018. What is the SST treatment on this provision?
GST should be charged at 0% up to 31 Aug 2018. From 01 Sept 2018, Service Tax should be charged at the rate of 6%
GST should be charged at 6% up to 31 Aug 2018. From 01 Sept 2018, Service Tax should be charged at the rate of 6%
Is there any relief tax for bad debts?
Can claim within 6 years from the date the taxable goods is sold
Subject to conditions determined by the DG and according to a prescribed formula
Can claim within 3 years from the date the taxable goods is sold
For Sales & Scrap Material
In GST treament -No tax code but in SST use new tax code V0 - No service tax 0% (SST)
In GST treament - Using tax code 00 but in SST use new tax code M0 No service tax 0% (SST)
Sales & Service Tax message output for Purchase Order
Z008 & Z009
Z003 & Z007
Sales & Service Tax Correspondence type for FI Tax Invoice
SAP19
ZAP19
Sales & Service Tax message output for SD Invoice
ZRD1 & ZRD7
ZRD3 & ZRD8
How long would I be able to claim the GST input tax after the implementation of SST?
Allowed to claim input tax credit within 60 days after the effective date of SST
Allowed to claim input tax credit within 120 days after the effective date of SST
Sales & Service Tax Business Scenario :Is the provision of services at the cafeteria subject to service tax from 1 September 2018?
Provision of food preparation services by any cafeteria is subject to service tax if the sales value of services exceeded RM 500,000.00
Provision of food preparation services by any cafeteria is subject to service tax if the sales value of services exceeded RM 50,000.00
Sales & Service Tax code implemented in SAP - Sapura Group
Output Tax SS - Sales tax 5%
Output Tax S1 - Sales tax 10%
Output Tax S1 - Sales tax 12%
Input Tax V0 - No Tax 0%
Input Tax V6 - Sales tax 6% (COS)
Input Tax V7 - Sales tax 6% (COS)
Input Tax VV - Sales tax 6% (Opex)
Input Tax V9 - No Tax 0%
Will there be a penalty for late payment?
Late payment penalty is applicable: 10% - first 30 days period, 15% - second 30 days period & 15% - third 30 days period
Late payment penalty is applicable: 10% - first 30 days period, 30% - second 30 days period & 50% - third 30 days period
How does the Sales & Service Tax works?
Manufacturer-->Wholesaler-->Retailer-->Consumer = Elemet of sales tax embedded in the price paid by consumer
(GOVERMENT collect tax at the manufacturer level only) Manufacturer-->Wholesaler-->Retailer-->Consumer = Elemet of sales tax embedded in the price paid by consumer
Who is the taxable person?
Taxable person is a person who manufactures taxable goods and is liable
Taxable person is a person who is the retailer taxable goods
Liable to be registered if the annual turnover has exceeded RM5000.00 threshold.
Liable to be registered if the annual turnover has exceeded RM500,000.00 threshold.
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