GST-03 Item 12 (ES + ES43) : How to compare the Total Value of Exempt Supplies between GST-03 and Ledger: Difference between revisions
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| Line 10: | Line 10: | ||
! Tax Code !! Tax Description || Tax Rate || Explanation and examples | ! Tax Code !! Tax Description || Tax Rate || Explanation and examples | ||
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| ES43 || Incidental Exempt Supplies || style="text-align:center;"| 0% || This refers to Exempt Supplies made under Incidental Exempt Supplies. | | style="vertical-align: top;" | ES43 || style="vertical-align: top;" | Incidental Exempt Supplies || style="text-align:center;"| 0% || This refers to Exempt Supplies made under Incidental Exempt Supplies. | ||
Incidental Exempt Financial Services Supplies (IEFS) include:-<br /> | Incidental Exempt Financial Services Supplies (IEFS) include:-<br /> | ||
* interest income from deposits placed with a financial institution in Malaysia | * interest income from deposits placed with a financial institution in Malaysia | ||
* realized foreign exchange gains or losses | * realized foreign exchange gains or losses | ||
|- | |- | ||
| ES || Exempt Supplies under GST || style="text-align:center;"| 0% || This refers to supplies which are EXEMPTED UNDER GST.<br /> | | style="vertical-align: top;" | ES || style="vertical-align: top;" | Exempt Supplies under GST || style="text-align:center;"| 0% || This refers to supplies which are EXEMPTED UNDER GST.<br /> | ||
These supply includes:-<br /> | These supply includes:-<br /> | ||
* Selling of Residential Properties to consumer | * Selling of Residential Properties to consumer | ||
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! Item No. !! Description || Guidelines | ! Item No. !! Description || Guidelines | ||
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| 12 || Total Value of Exempt Supplies || '''ES43 + ES''' (Taxable Amount) <br /> ''Note: Net Loss in Forex (ES43)= 0.00'' | | style="vertical-align: top;" | 12 || style="vertical-align: top;" | Total Value of Exempt Supplies || '''ES43 + ES''' (Taxable Amount) <br /> ''Note: Net Loss in Forex (ES43)= 0.00'' | ||
|}<br /> | |}<br /> | ||
Revision as of 05:05, 28 January 2016
How to compare the Total Value of Exempt Supplies between GST-03 and Ledger?
Introduction
- This guide will help to check the data entry source posted for Item 12 Total Value of Exempt Supplies in GST-03.
- 1. GST Tax Code
Tax Code Tax Description Tax Rate Explanation and examples ES43 Incidental Exempt Supplies 0% This refers to Exempt Supplies made under Incidental Exempt Supplies. Incidental Exempt Financial Services Supplies (IEFS) include:-
- interest income from deposits placed with a financial institution in Malaysia
- realized foreign exchange gains or losses
ES Exempt Supplies under GST 0% This refers to supplies which are EXEMPTED UNDER GST.
These supply includes:-
- Selling of Residential Properties to consumer
- Selling of tickets for Public Transportation (Taxis, Stage Buses, Ferries)
- Financial Institution’s interest charges to customers for loan.
- 2. GST-03
Item No. Description Guidelines 12 Total Value of Exempt Supplies ES43 + ES (Taxable Amount)
Note: Net Loss in Forex (ES43)= 0.00
What report to check the item 12 in GST-03?
GST Listing
[GST | Print GST Listing...]
GL Ledger
[GL | Print Ledger Report...]