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Accounting for GST
Last Updated : 15/2/2013 23:26
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Basically, all taxable persons will be required to account for GST based on accrual (invoice) basis of accounting i.e. all output tax and input tax are to be accounted and claimed based on the time when the invoice was issued or received. 

However, certain categories of taxable persons may be allowed to use the payment (cash) basis of accounting. This facility may be given to businesses who carry out their activities solely on a cash payment basis. 

All business and accounting records relating to GST transactions are to be kept in Bahasa Melayu or English for a period of seven (7) years.

GST Accounting Software Company list approved by RMCD are as follows here

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