There are lot of confusion when it comes into GST implementation. We, at senangPay will try our best to make it clear for every merchant.

Does senangPay register to GST?

YES. senangPay is managed by SIMPLEPAY GATEWAY SDN BHD, Business Registration Number : 1155742-H

SIMPLEPAY GATEWAY SDN BHD is registered under the Royal Customs of Malaysia, Good and Services Tax (GST) Act which will be effective 1st April 2015. Our GST registration number is as follow:-


Item Details
COMPANY NAME SIMPLEPAY GATEWAY SDN BHD
GST REGISTRATION NO 000154415104
                       

As such, you will be required to pay the fees and charges and the chargeable GST with effect from 1 April 2015. Please do not hesitate to contact our office if you need further clarification.

 

So how about the GST calculation?

There are 2 things that you need to consider. First, the monthly / yearly subscription fees. Below are the comparison before and after GST implementation.


Item Before GST After GST
MONTHLY SUBSCRIPTION RM 10.00 RM 10.60
YEARLY SUBSCRIPTION RM 200.00 RM 212.00
ADVANCE YEARLY SUBSCRIPTION RM 450.00 RM 477.00

 

Second, the transaction fees. For example, let say the transaction amount of the month is RM100.00, thus :


Item Before GST After GST
2.5% Transaction Charge RM2.50 RM2.50 + RM0.15 (GST)
     

Thus, the merchant settlement is :


Item Before GST After GST
Settlement RM100.00 – (RM2.50 for 2.5% Transaction Fees) = RM97.50 RM100.00 – (RM2.50 for 2.5% Transaction Fees + RM0.15 GST) = RM97.35
     

If you are the merchant that implement GST, below are the example for your product charge :


 

Item Before GST After GST
Product Price RM100.00 RM100.00 + RM6.00 for 6% GST = RM106.00
Settlement RM100.00 – (RM2.50 for 2.5% Transaction Fees) = RM97.50 RM106.00 – (RM2.65 for 2.5% Transaction Fees + RM0.16 GST) = RM103.19
     

Screen Shot 2015-04-09 at 1.17.01 PM

Related Content :
1. GST on Malaysia Custom
2. How to setup merchant business header

Screen Shot 2015-04-09 at 1.17.01 PM
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