SST Sales Tax

Created by Ka Chun, Modified on Fri, 25 Feb, 2022 at 12:06 PM by Ka Chun

Scenario 

 

The Sales and Services Tax (SST) has been implemented in Malaysia. The SST replaces the existing Goods and Services Tax (GST) and affects all domestic and import shipments.

The SST has two elements:

A Service Tax that is charged and levied on taxable services provided by any taxable person in Malaysia in the course and furtherance of business,

and a single stage Sales Tax levied on imported and locally manufactured goods, either at the time of importation or at the time the goods are sold or otherwise disposed of by the manufacturer.

 

Solution 

 

SEtting up

  1. Files > Modules

  1. Tick GST/VAT/SST. Save & Close

  1. Go to GST/SST Settings. Enter Date. Tick SST Registrant. Save

  1. Upon saving, Tax Code Update will show

Please select ‘Sales’ or ‘Services’ depends on what your company is registered under. Click OK

  1. Go to GST/SST Accounts Setup. Click Apply. The purpose for this step is creating the GL Account under Chart of Account and assigned in Tax Code Posting (You can refer the result in step 6 and 7)

 

  1. Go to General Ledger > Chart of Accounts.

Type and search SST. Notice that SST GL account codes have been applied

  1. Go to Tax Codes. GL account is applicable in Posting Account column now.

System will post to the GL account according to the tax code as defined.

 

 

 

 

  1. Go to File > Company Profile

 

Update Sales Tax Register Number if you are register under Sales Tax
 Update Services Tax Register Number if you are register under Service Tax

 

  1. Go to Company Info. Update SST Register Number under company letter head

 

 

SST SAles tax

  1. Go to Stock Item > Default GST/SST. 

 

 

 

 

 

 

 

  1. Create SST Tariff Code for your item 

  1. Define Tariff Code accordingly. Save & Close the tariff code and stock item after defined. 


  1. Create Cash Sales. Insert Tax field by right click the title row and select Column Chooser

  1. Drag Tax, Tax Code and Tax Rate out from Column Chooser if the fields are not displayed by default. Repeat same steps for other transactions. 

 

 

 

 

 

 

  1. Keyin stock item, quantity, unit price and tax code. Save

  1. View GL Transaction. Notice that system Credit to SST Sales Tax account


  1. Go to SST Sales Tax Return. Click New and OK

  1. Fill up taxable period. Then Save it, so that you do not need to fill the taxable period again later. 

After this, click “Re-Generate Draft Data”, system will display the result according to the SST tax codes as selected 

 


  1. Click Retrieve SST Reports SST-02

  1. Notice tax amount at the Taxable Goods at 10% Rate in column 11 (b)
     If you defined tax code for ST-5%, system will display the result in column 11 (a)

  1. Create Sales Credit Notes. Select Tax Code ST-5% for example


  1. View GL Transaction. Notice that system will Debit to SST Sales Tax account

  1. Go to SST Sales Tax Return again, notice that the taxable period already there. 

Click on “Re-Generate Draft Data” since new transactions has been added. Then click Retrieve SST Reports SST-02 


  1. Notice tax amount at Tax Deduction from Credit Note in column 13 (a)

Submit SST Return

This is used to lock the Tax after making payment and complete the transaction at the custom portal

For Submission and Lock Taxable Period, Go to Edit > Submit SST Return


  1. Fill up information. Click Submit

  1. Click Yes to confirm. System will generate the Journal Voucher automatically 


  1. Click Yes to open journal

  1. System generates a Journal Entry & Posting the double entries

Dr  SST Sales Tax
      Cr    SST Payable Account 

  1. Status of Sales Tax Return becomes Submitted


  1. Open back the transaction within taxable period.

  1. Try Edit from quantity 1 to 2. Save.


  1. System will not allow saving with a validation error message

Unlock Taxable Period 

Edit > Unlock Taxable Period. Click Yes

  1. Enter Reason and Click OK. 

 

Note: Refer Related Information

QNE Optimum Enabling SST Module

https://www.youtube.com/watch?v=BQ9zeBb7wdw&ab_channel=QNE%3AAccounting%26PayrollSoftwareMalaysia 

QNE Software - SST Sales Tax

https://www.youtube.com/watch?v=56JpVwPOxGc&ab_channel=QNE%3AAccounting%26PayrollSoftwareMalaysia 

SST TAX CODES MAPPING TO SST-02 FORM

https://support.qne.com.my/support/solutions/articles/81000391877-sst-tax-codes-mapping-to-sst-02-form 

 

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