GST Do-It-Yourself

Malaysia is implementing Goods & services tax (GST) on 1st April 2015. GST is governed by :

1. GST ACT 2014
2. GST Regulation 2014
3. GST Orders
The Royal Malaysian Customs Department (RMC) is the authority in charge of administrering GST in Malaysia. RMC has issued guidelines (general, specific & industry) and DG decisions on GST matters which can be obtained from the official website. More guidelines will be issued from time to time by RMC, Malaysian GST is a progressive consumption tax.
Account personnel (account assistant, account executive, account manager, accountants and all those involved in the preparation of GST return) need to have a clear understanding on how GST works in Malaysia especially in the following areas:
  1. type of supply
  2. time of supply
  3. place of supply
  4. scope of GST
  5. mechanism of GST
  6. the prerequisites of claiming input tax credit
  7. Input tax, blocked input tax and other dis-allowable input tax  
  8. How to account for output tax?
  9. How to account for input tax?
  10. how to account for output tax adjustments?
  11. how to account for input tax adjustments?
  12. How to compute GST Return correctly
  13. Transitional issue

Account personnel must also understand how to do accounting entries and record correct amount and gst value for different supply. Failure to apply GST knowledge will lead to wrong computation of GST payable or claimable in your GST return and non-compliance of GST Rule and Regulation will be costly.

Our GSTBOOKTM template is design to assist the account personnel to data entry their business transaction of GST and automatic generate its income and expenditure report. It does not use tax code to map the accounting transaction, however it is never a mandatory to use tax code. It is merely recommendation by RMC. It does not cover on various requirement on GST except on those areas which are related to accounting entries and summing up GST value. If you wish to know more about the GST issue and requirements, you are advised to attend more GST seminars or our webinar at and read more GST books and blog post in our website related to GST, i.e. GST Formula Overview
This GSTBOOKTM have various limitation compare to RMC certified accounting software . if you are in specific industries, you are advised to seek competent professional advice in your areas of operations. You are also advised to visit RMC official website to obtain latest update on guidelines and panel decision on GST matters.

GSTBOOKTM and e-cashbook template

GSTBookTM was designed by a small business owner, MOF licensed tax agent and Chartered accountant through his intellect mind. It is simple, professional, and GST free solution on return and bookkeeping. In contrast to other accounting software; training, upgrade and support software for GSTBookTM is not needed and don’t require tax code familiarization as well. This is an Excel software with GST formula applied, it specifies the inflow and outflow of bank and cash transactions.  The sales and purchase invoice should be recorded to post the GST amount.  As we are used to Microsoft excel, Google spreadsheet and open office we only cut and paste for the calculation that has been done ready to us by the GSTBookTM.

We spent about 80 hours of accountant time to develop the template.  We appreciate a small donation of USD19.99 before to download the free template. The amount is like a cost of a book purchased.

Your contribution will help us to improve the template and keep the GSTBookTM up to date with GST regulation.

Download e-cashbook with payment basis of GST computation (USD9.99)

Download both e-cashbook (payment basis) and GSTBOOKTM (invoice basis) (USD19.99)

Please check out screenshot of GSTBOOKTM excel worksheet on following pages below

  1. Receipt summary
  2. Payment summary
  3. Purchase credit and debts summary
  4. Sales credit and bad debts summary
  5. Bank reconciliation
  6. Cash reconciliation
  7. GST summary
  8. GST return report
  9. Income & Expenses report
  10. How to donate and download the template?



1. Screenshot of Receipt summary Receipt summary











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