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Determine the deadline for Pewter Sdn End to remit the sales

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Reference no: EM132999894

Problem - Pewter Sdn Bhd is a licensed manufacturer under the Sales Tax Act 2018. The company imported most of its pewter components from Russia. The extract sales report of the company for the month of August 2020 is as follows:

RM

Sales to Kuah Pewter House. Lanqkawi: Sales Value 240,000

Sales to Royal Setangor, Petaling Jaya:

Purchase price of the imported components 550,000

Insurance 12,000

Freight Charges 5,000

Import duty 20%

Required -

a. Compute the sales tax payable by Pewter Sdn End in respect of the above transaction, given the sales tax rate of 10%.

b. Determine the deadline for Pewter Sdn End to remit the sales tax to the Customs Department in order to avoid being penalized for late payment.

Reference no: EM132999894

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