The most important document in the GST system is the tax invoice. A correctly issued tax invoice will contain certain information such as details of registered person and supply, the GST rate and the amount of GST payable.

A tax invoice is an essential evidence to:

(a) determine the period when a supplier should include his taxable supplies and account for output tax

(c) determine the period when a purchaser should include his taxable purchases and support his input tax claim

The tax invoices must be kept for at least five years (seven years in Malaysia). It is not required to submit these tax invoices with your GST returns.

The importance of tax invoice in the GST system


  • Dormant Companies Notwithstanding that the company is no longer in operation or has ceased business activities, a dormant company has to file its annual return with ACRA. It also must submit its Income […]
  • Malaysia’s GST Return Submission In Malaysia, every GST registered person is required to submit the Form GST-03 return to Malaysian Customs either every 1 month or 3 months, depending on the annual revenue of all taxable […]
  • Determining whether you are employed or self-employed It is important for individuals to determine whether they are an employee or self-employed. This is because when it comes to taxes, there are significant distinctions between the […]

Leave a Reply

Your email address will not be published.

14 − 11 =