This is not the case as the GST legislation records "gifts" as deemed supply, and businesses providing these complimentary goods must account for and pay 7% GST to the Inland Revenue Authority of Singapore ("IRAS") based on the open market value of the goods unless the cost of the gifts or goods is not more than $200, or businesses did A quick guide to understand Goods and Services Tax (GST), GST Suvidha Provider (GSP), Application Suvidha Providers (ASP) and GST compliance software. As GST Suvidha Provider (GSP), Masters India also offers GST API and E-Way bill API to enterprises and application service provider across India. GENERAL GUIDE As at 12 JULY 2017 1 INTRODUCTION General Guide 1. This booklet is a General Guide on Goods and Services Tax (GST). It is part of a series of educational materials made available to help businesses and organizations prepare for GST implementation in Malaysia. Other Related Guides 2. Overview of Goods and Services Tax (GST) in Malaysia The Ministry of Finance (MoF) announced that starting from 1 June 2018 , the rate of the Goods and Service tax (GST) will be reduced to 0% from the current 6%. GST Exemption for Investment Precious Metals Individuals or businesses importing investment precious metals (IPMs) into Singapore are exempted from paying Goods and Services Tax (GST) if the IPMs meet the IPM Qualifying Criteria . Malaysia Master GST Guide 2017 provides a clear, concise and practical explanation of Goods and Services Tax (GST) in Malaysia. This book is an invaluable tool for tax advisers and accountants in public practice, as well as those in the corporate and public sectors. Understand the best practices in managing an IRAS audit and how to effectively engage with IRAS during an audit Acquire practical knowledge on how to enhance GRBs' application of GST requirements in a practical business arrangement The IRAS has issued the third edition of the Country-by-Country Reporting e-Tax Guide on 7 August 2018 by am