Sales & Service Tax trivia

A detailed and colorful infographic depicting various aspects of Sales & Service Tax, including tax rates, compliance processes, and business scenarios.

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

17 Questions4 MinutesCreated by CalculatingTax903

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

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)

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

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.

Sales & Service Tax trivia

Sales & Service Tax Proficiency Quiz

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