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==How to claim the input tax 6% from Purchase/Supplier invoice after 1 Sept 2018?== | ==How to claim the input tax 6% from Purchase/Supplier invoice after 1 Sept 2018?== | ||
: | :For example, on 13 Sept 2018, my company has received a supplier tax invoice dated 07 MAY 2018 and amount inclusive GST is RM10,600. | ||
[[File:GST-FinalReturn 02.jpg]] | [[File:GST-FinalReturn 02.jpg]] |
Revision as of 09:52, 24 August 2018
Introduction
- Pursuant to Section 6, Goods and Service Tax (Repeal) Act 2018, all GST Registrants are required:
- 1. to submit the GST-03 Return on the final taxable period (ie. 31 Aug 2018) and
- 2. make full payment for the amount of tax payable in connection with the supply for the last taxable period within 120 days (29 December 2018) from 01 Sept 2018.
How to claim the input tax 6% from Purchase/Supplier invoice after 1 Sept 2018?
- For example, on 13 Sept 2018, my company has received a supplier tax invoice dated 07 MAY 2018 and amount inclusive GST is RM10,600.
Purchase Invoice
Menu: Purchase | Purchase Invoice
- 1. Set Date.... to record the original invoice date.
- 2. Set Posting Date... to post this transaction as 13 Sept 2018 in GL reporting.
Note: To enable to set Posting Date, the Double Document Module is required.
- 3. Set Tax Date...to declare this GST input tax into Final GST Returns (31 Aug 2018).
Supplier Invoice
Menu: Supplier | Supplier Invoice
Negative in 6a6b
Menu: GL | Journal Entry...
- 1.Input Tax (Negative)
Items Value 6a -1,000 6b -60
- 2.Journal Adjustment:
GL Code Tax Tax Rate Local DR Local CR Local DR(Tax) Local CR(Tax) GST-03 GST-103 TX 6% 1,000 1,060 6a = 0
6b = 0GST-103 AJS-OA 6% 1,000 1,060 5a = 0
5b = 60