Should I get GST Registered if my 12 month revenue is under RM500k / year?

Your Annual Sales Volume
MYR
Estimated % Sales decrease due to a GST price increase
%
% of Sales that will be subject to 6% / "Standard Rated" GST
%
Your Annual Cost of Supplies / Other Expenses
MYR
% of Purchases that will be subject to 6% / "Standard Rated" GST
%
% of Purchases from GST registered suppliers
(estimate it)
%
GST Administration Cost (accounting, other) per year
This should be very small if you are using QuickBooks Online
MYR
 
Not GST-registered
GST-registered
Sales
GST Collected on Sales and Paid to MY Customs
300,000
 
300,000
17,600
Costs
Supplies / Other Costs
GST Paid on Supplies
 
150,000
150,000
 
9,000
9,000
Gross Profit
35,000
29,000
GST on Supplies Claimed Back
GST Administration Costs
-
-
150,000
2,000
Net Profit (MYR)
35,000
45,000
Based on your inputs it is best for you to:
Get GST registered*
Your claims from MY Customs if you get registered exceed a decrease in sales and your GST administration costs.
Our recommendation - Get GST registered*
*Disclaimer: This is an illustration - Intuit does not take responsibility for professional compliance / tax advice