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

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.

b. Realized Loss in Foreign Exchange

Screenshot below from Customer Payment.

3. ES - Financial Institution’s interest charges to customers for loan

Screenshot below from Customer Invoice.

[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.