GST & Major Industry Code

AA-01490

All Malaysian GST registered businesses are assigned and classified under at least 1 or more Major Industry Code.

How do I set this up in my software to ensure the proper information is captured in my GST-03?

Sage products caters fully for this requirement and produces the necessary analysis for the tax return, GST-03.

What if I only have 1 major industry code?

In this situation, the solution is very straight-forward. You will have to set this up in the general GST setting of your Sage UBS or Sage 50 or via the GST Set-up Wizard. 


What if I have multiple major industry codes?

When there are multiple major industry codes involved, then we would need to classify and attach the various codes to the proper supplies that our business provides to our customers. To achieve this, each product or product group can be assigned the Major Industry Code. This enables our users to classify this as fine as possible and generate the necessary output. 


What if it is not defined completely?

If I have a few major industry codes and I dd not define all of the products (or for more efficiency product groups,which products are tied to) then the GST for those transactions will fall into the category Others. 

Where do I see the information in the GST-03?

If the set-up is done correctly, there are no additional steps required in the Sage products. The result that you require will show correctly on your GST-03.