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===Purchase Invoice=== | ===Purchase Invoice=== | ||
''Menu: Purchase | Purchase Invoice'' | |||
[[File:GST-FinalReturn 03.jpg]] | [[File:GST-FinalReturn 03.jpg]] | ||
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[[File:GST-FinalReturn 04.jpg]] | [[File:GST-FinalReturn 04.jpg]] | ||
<br /> | <br /> | ||
===Supplier Invoice=== | ===Supplier Invoice=== | ||
Revision as of 09:27, 24 August 2018
Introduction
- Pursuant to Section 6, Goods and Service Tax (Repeal) Act 2018, all GST Registrants are required:
- 1. to submit the GST-03 Return on the final taxable period (ie. 31 Aug 2018) and
- 2. make full payment for the amount of tax payable in connection with the supply for the last taxable period within 120 days (29 December 2018) from 01 Sept 2018.
How to claim the input tax 6% from Purchase/Supplier invoice after 1 Sept 2018?
- Any input tax claimable from the purchase/supplier invoice received after 1 Sept 2018. It can be claim and must submit into the Final GST Returns (31 Aug 2018).
- Input tax claim will be subjected to verification and audit.
- Refund will be made within 6 years.
Purchase Invoice
Menu: Purchase | Purchase Invoice
- 1. Set Posting Date... to post this transaction into 13 Sept 2018 in GL reporting.
Note: Need to purchase and add-on the Double Document Module.
- 2. Set Tax Date...to declare this GST input tax into Final GST Returns (31 Aug 2018).
Supplier Invoice
- Menu: Supplier | Supplier Invoice
Negative in 6a6b
Menu: GL | Journal Entry...
- 1.Input Tax (Negative)
Items Value 6a -1,000 6b -60
- 2.Journal Adjustment:
GL Code Tax Tax Rate Local DR Local CR Local DR(Tax) Local CR(Tax) GST-03 GST-103 TX 6% 1,000 1,060 6a = 0
6b = 0GST-103 AJS-OA 6% 1,000 1,060 5a = 0
5b = 60
