| Line 32: | Line 32: | ||
::{| class="wikitable" | ::{| class="wikitable" | ||
|- | |- | ||
! Item no !! Description !! Amount | ! Item no !! Description !! Local Amount | ||
|- | |- | ||
| 5a || Total Value of Standard Rated Supply || style="text-align:right;"| '''9,433.96''' | | 5a || Total Value of Standard Rated Supply || style="text-align:right;"| '''9,433.96''' | ||
| Line 58: | Line 58: | ||
::{| class="wikitable" | ::{| class="wikitable" | ||
|- | |- | ||
! Item no !! Description !! Amount | ! Item no !! Description !! Local Amount | ||
|- | |- | ||
| 11 || Total Value of Export Supplies '''(ZRE)''' || style="text-align:right;"| '''25,000.00''' | | 11 || Total Value of Export Supplies '''(ZRE)''' || style="text-align:right;"| '''25,000.00''' | ||
Revision as of 04:53, 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
Menu: Customer | Customer Payment...
A. Non-Refundable (SR)
- 1. Create New Customer Payment.
- 2. Enter the Paid Amount, eg. Rm10,000.00
- 3. Tick Non-Refundable for GST not equal to 0%.
- 4. See the screenshot below.
- 5. Process GST Returns (GST | New GST Returns...).
- 6. Print the GST-03.
- GST-03 results:-
Item no Description Local Amount 5a Total Value of Standard Rated Supply 9,433.96 5b Total Output Tax (Inclusive of Tax Value on Bad Debt Recovered & other Adjustments) 566.04
- 7. See the GST-03 screenshot below.
B. Non-Refundable (ZR)
- 1. Create New Customer Payment.
- 2. Enter the Paid Amount, eg. Rm25,000.00 (USD6,000.00)
- 3. Untick Non-Refundable for GST equal to 0%, eg. ZRL and ZRE.
- 4. Press CTRL + ALT + G.
- 5. Enter the tax transactions. See the detail screenshot below.
- 5. Process GST Returns (GST | New GST Returns...).
- 6. Print the GST-03.
- GST-03 results:-
Item no Description Local Amount 11 Total Value of Export Supplies (ZRE) 25,000.00
- 7. See the GST-03 screenshot below.
