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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==Example of Data Entry== | |||
:1. ES43 - '''Interest income from deposits placed with a financial institution in Malaysia''' | |||
::Screenshot below from Journal Entry. | |||
::[[File: GST GST-03 Item12-14.jpg| 30PX]] | |||
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:2. ES43 - '''Realized foreign exchange gains or losses''' | |||
::a. '''Realized Gain in Foreign Exchange''' | |||
::Screenshot below from Customer Payment. | |||
::[[File: GST GST-03 Item12-15A.jpg| 30PX]] | |||
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::b. '''Realized Loss in Foreign Exchange''' | |||
::Screenshot below from Customer Payment. | |||
::[[File: GST GST-03 Item12-15B.jpg| 30PX]] | |||
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:3. ES - '''Financial Institution’s interest charges to customers for loan''' | |||
::Screenshot below from Customer Invoice. | |||
::[[File: GST GST-03 Item12-16.jpg| 30PX]] | |||
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==GST-03 Item 12: Total Value of Exempt Supplies== | |||
''[GST | Print GST-03...]''<br /> | |||
:Screenshot below from GST-03 Item 12. | |||
::[[File: GST GST-03 Item12-01.jpg| 30PX]] | |||
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:1. Double click on the item 12 amount. | |||
:2. Pop-up the item 12 detail. | |||
::[[File: GST GST-03 Item12-02.jpg| 30PX]] | |||
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:3. You can insert additional column, ie. From Doc Type and Trans Type. | |||
::[[File: GST GST-03 Item12-03.jpg| 30PX]] | |||
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'''Tips:''' | |||
Trans Type = _X, it means the posting entry related to '''Realized Gain or Loss in Foreign Exchange'''. | |||
==Cross Check Reports== | |||
===GST Listing=== | ===GST Listing=== | ||
''[GST | Print GST Listing...]''<br /> | ''[GST | Print GST Listing...]''<br /> | ||
:3. You can insert additional column, ie. From Doc Type and Trans Type. | |||
::[[File: GST GST-03 Item12-03.jpg| 30PX]] | |||
<br /> | |||
===GL Ledger=== | ===GL Ledger=== | ||
''[GL | Print Ledger Report...]''<br /> | ''[GL | Print Ledger Report...]''<br /> |
Revision as of 08:37, 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
Example of Data Entry
- 1. ES43 - Interest income from deposits placed with a financial institution in Malaysia
- 2. ES43 - Realized foreign exchange gains or losses
- 3. ES - Financial Institution’s interest charges to customers for loan
GST-03 Item 12: Total Value of Exempt Supplies
[GST | Print GST-03...]
Tips: Trans Type = _X, it means the posting entry related to Realized Gain or Loss in Foreign Exchange.
Cross Check Reports
GST Listing
[GST | Print GST Listing...]
GL Ledger
[GL | Print Ledger Report...]