GST-03 Item 12 (ES + ES43) : How to compare the Total Value of Exempt Supplies between GST-03 and Ledger

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

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...]

Screenshot below from GST-03 Item 12.

1. Double click on the item 12 amount.

2. Pop-up the item 12 detail.

3. You can insert additional column, ie. From Doc Type and Trans Type.

Tips:
Trans Type = _X, it means the posting entry related to Realized Gain or Loss in Foreign Exchange.

[GST | Print GST Listing...]

3. You can insert additional column, ie. From Doc Type and Trans Type.

[GL | Print Ledger Report...]