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==Introduction== | ==Introduction== | ||
:How to enter the non-refundable deposit accounted to '''Standard Rated''' (SR) and '''Zero Rated'''(ZRL & ZRE) to reflect in GST-03 submission? | :How to enter the non-refundable deposit accounted to '''Standard Rated''' (SR) and '''Zero Rated'''(ZRL & ZRE) to reflect in GST-03 submission? | ||
:This guide will help you | :This guide will help you out. All non-refundable deposit amount are inclusive tax. <br /> | ||
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2. Total Value of Export Supplies | 2. Total Value of Export Supplies | ||
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==Customer Payment== | ==Customer Payment== | ||
Revision as of 02:27, 25 February 2016
GST Treatment-Non-Refundable Deposit
Introduction
- How to enter the non-refundable deposit accounted to Standard Rated (SR) and Zero Rated(ZRL & ZRE) to reflect in GST-03 submission?
- This guide will help you out. All non-refundable deposit amount are inclusive tax.
Type of supplies Tax Rate GST-03 Standard Rated (SR) 6% 1. Total Value of Standard Rated Supply (5a)
2. Total Output Tax (5b)
Zero Rated (ZRL & ZRE) 0% 1. Total Value of Local Zero Rated Supplies
2. Total Value of Export Supplies
Customer Payment
A. Non-Refundable (SR)
- 1. ES43 - Interest income from deposits placed with a financial institution in Malaysia
- Screenshot below from Journal Entry.
- 2. ES43 - Realized foreign exchange gains or losses
- a. Realized Gain in Foreign Exchange
- Screenshot below from Customer Payment.
- a. Realized Gain in Foreign Exchange
- b. Realized Loss in Foreign Exchange
- Screenshot below from Customer Payment.
- b. Realized Loss in Foreign Exchange
- 3. ES - Financial Institution’s interest charges to customers for loan
- Screenshot below from Customer Invoice.
B. Non-Refundable (ZR)
[GST | Print GST-03...]
- 1. For instances, the GST-03 Item 12 = Rm62.886.40
- 2. You can check the details by double click on the amount in Item 12.
- 3. Pop-up the item 12 detail.
- 4. You can insert additional column, ie. From Doc Type and Trans Type.
- a. From Doc Type will help you to identify the documents where it posted;
- b. Trans Type will tell you the document posted from special case, eg. Realized Gain in Foreign Exchange.
NOTE: Trans Type = _X, it means the posting entry related to Realized Gain or Loss in Foreign Exchange.