The GST implementation is happening by the 1st of April this year, which means we are left with less than a month. Are you still finding for the right or the best GST Accounting Software in Malaysia? Is the cost way too high for you, or are you worried that you would need to pay thousands of ringgit to switch your systems?
Read more for the best solution after the break
You see, I was on my way to breakfast awhile ago, when I received a call from a frantic person looking for quality, affordable and reliable GST Accounting Software in Malaysia. She certainly sounded like she was panicking as she enquired on behalf of her company. Finding one would be crucial as there will be penalty if your GST accounts are not up to date nor submitted on time. A lot of people are worried about it, and some even have closed down their companies because they fear they won’t be ready.
Then I read the Malaysian Insider and came across this.
â€œWe also have to fork out money for GST software and learn how to use it so that we can then claim the tax back from the government,â€ said Azrai, who is based in Kuala Lumpur.
This leads to the second and equally important reason. Although small contractors donâ€™t have to charge GST to their clients, they will have to pay GST to their hardware and raw material suppliers for goods that are not zero-rated.
By registering and using the software, they would then be able claim that cost of the tax back from the government.
â€œThe software itself is RM1,400 a year if you are renting it. It can go up to RM10,000 if you buy it,â€ said Jamaluddin, who is also national PKMM assistant secretary.
Family-run outfits will also have to hire staff capable of doing the day-to-day accounting, since all the input taxes will have to be documented.1
And no, we don’t run any GST Accounting Software companies, but our friends do. Still keen? Do give uCounting a go. They are run by a great team with a great outlook on the future. And their software is definitely GST compliant. If you prefer, you can even contact Joel, the guy behind it, at +6016-336 3236
- Â http://www.themalaysianinsider.com/malaysia/article/contractors-anticipate-cash-flow-pain-competition-with-gst ↩