How to avoid costly GST errors?
Introduction
- This guide will help you to easily identify the common GST errors in GST Returns. To minimize GST amendment and incorrect GST Returns to RMCD.
- You may wish to take note the follow errors commonly made by businesses:
- 1. Standard Rated Supply (5a) and Output Tax (5b)
- 2. Stanadard Rate and Flat Rate Acquisitions (6a), and Input Tax (6b)
- 3. Carry forward refund for GST?
- 4. Local Zero-Rated Supplies
- 5. Export Supplies
- 6. Exempt Supplies
- 7. Supplies Granted GST Relief
- 8. Goods Imported Under Approved Trader Scheme and GST Suspended
- 9. Capital Goods Acquired
- 10. Bad Debt Relief
- 11. Bad Debt Recovered
- 12. Output tax value breakdown into Major Industries Code (MSIC Code)
- 13. Disallowed Input Tax
- 14. Other important info required in GAF