GST-Submission of Final GST Return

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 and

2. make full payment for the amount of tax payable in connection with the supply, for the last taxable period within 120 days from 01.09.2018

Menu: GL | Journal Entry...

1. Output Tax (Negative)

GST-03	Value
5a	-2,000
5b	-120

2. Journal Adjustment:

GL Code	Tax	Tax Rate	Local DR	Local CR	Local DR(Tax)	Local CR(Tax)	GST-03
GST-103	AJP-OA	6%	2,000		2,120		6a = 0 6b = 120
GST-103	SR	6%		2,000		2,120	5a = 0 5b = 0

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 = 0
GST-103	AJS-OA	6%		1,000		1,060	5a = 0 5b = 60