GST Treatment: Non-Refundable Deposit

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:-

GST-03 Item	Description	Local Amount
11	Total Value of Export Supplies (ZRE)	25,000.00

7. See the GST-03 screenshot below.

See also

• Customer Payment
• Print GST-03