SME Corp on GST eVoucher

Owned by l (Unlicensed)
Last updated: 2014-Nov-14 by Farah S Noshirwani (Unlicensed)
3 min read

Benefit of the 2nd batch of certified software vendors that:

(a)     Objective of eVoucher 

Encourage Small and Medium Enterprises (SMEs) to use an effective and efficient accounting system as well as to increase the compliance rate of GST by SMEs, the Government has announced a total RM 150 million allocation to assist SMEs in purchasing or upgrading their existing accounting software to GST compliant software.

(b)     SMEs will be given a one-off grant of lower of or maximum of RM 1,000.00

 

Eligibility of the companies who are entitled the eVouchers.

  • Qualifying criteria (SME definition)
    • Manufacturing Sector                    : Sales turnover not exceeding RM50 million OR full-time employees not exceeding 200 people.
    • Service Sector and other sectors   : Sales turnover not exceeding RM20 million OR full-time employees not exceeding 75 people.
  • Establishment type
    • Incorporated under the Registration of Company Act (1965); or
    • Registered under the Registration of Business Act (1956) or Limited Liability Partnerships Act (2012); or
    • Registered with the respective authorities or district offices in Sabah and Sarawak; or
    • Registered with the respective statutory bodies for professional service providers.
  • Not listed on the main board of Malaysia or other countries.
  • Not a subsidiary of public listed companies on the main board of Malaysia or other countries.
  • Not a subsidiary of large firms, multinational corporations (MNCs), Government-linked companies (GLCs), Syarikat Menteri Kewangan Diperbadankan(MKDs) and State-owned enterprises

If owner of the SME is a PLC, the shareholding shall not be > 20%.

  • Applicants of eVoucher should:
    • Register with MyGST - 12 digits number 
    • Fulfill the SME Definition as stated above
    • Have at least 51% of Malaysian Equity
  • eVoucher can only be redeemed from the software providers that has been certified by RMCD

Other clarifications not otherwise stated in the http://gst-evoucher.smecorp.gov.my/eng/about.html website:

  •  Purchases made before 12 March 2014 can be claimed “manually” i.e. not via the eVoucher portal for new registered companies after 12 March 2014 but via SMEC directly.
  • Individual email address is required to register to obtain an eVoucher i.e. 1 accountant to 20 subsidiaries means he accountant have to open 20 email addresses as a unique code is given and the database will not allow re-registration of similar email.
  • eVoucher is valid from 1 June 2014 until 28 February 2015 but the vendor may claim back from SME till 31 July 2015 (which will be the effective expiry date of the Service Agreement signed by each vendor with SMEC
  • If products are sold in a bundle, a split of prices is required to indicate the amount claimable.

Other open questions which SMEC will revert:

  1. Whether there is a policy for invoices issued by re-sellers or distributors since initial requirements are that the vouchers can only be claimed by the software vendor. SMEC intention is to only deal with 1 party i.e. the software vendor. They are open to discuss whether invoices by re-seller can be used but may require certain indication on the invoices.
  2. SMEC is open to the suggestion whereby a read only portal will be available for all redeemed vouchers for re-sellers/any other party to view in order to safeguard their interest before making a sales deal as they are required to give a discount upfront to the customers. This is to avoid potential noncollectable debt via fraudulent eVouchers or redeemed vouchers.

 

How to submit claims to SME Corporation for GST Voucher

Y.Bhg Datuk / Mr. / Mrs.,

The above subject matter is referred.

2. Kindly be informed that throughout the checking of the claim submissions by some vendors, the Secretariat has discovered that certain instances and issues need to be highlighted to all the vendors for necessary action as follows:

i. Vendor has to login to the system and to 'click' redeemed the GST eVoucher in accordance to the voucher's serial number, whenever the SMEs have presented and agreed to purchase the accounting software from them. This is to confirm that the SME purchased the software from that particular vendor.

ii. Vendor has to ensure that the invoice stated the full amount of the software.

iii. As for the receipt (in one receipt), it should indicate 2 information that are :

- payment via GST e-Voucher
- payment by : cash / cheque / bank draft / fund transfer etc,
= TOTAL AMOUNT

iv. Vendor must submit any addition and/or changes of the latest list of their agents / re-sellers, by the 25th - 30th of every month if such addition or changes do occur.

3. We would appreciate if all vendors could adhere to the stipulated procedures that have been informed earlier by SME Corp and Customs.


4. Should you have any query or proposal, please do not hesitate to contact Ms. Neny Suzana Razli or Ms. Zubidah Hassan at 03-2775 6071/6054.

Thank you.


Best regards,
GST e-Voucher Secretariat
Business Advisory & Support Division
SME Corporation Malaysia
T: 03-27756071 / 03-27756076 (Neny Suzana Razli / Zubidah Hassan)
F: 03-27756312


Private & Confidential