GST Treatment: Non-Refundable Deposit

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GST Treatment-Non-Refundable Deposit


Introduction

How to enter the non-refundable deposit accounted to Standard Rated (SR) and Zero Rated(ZRL & ZRE) to reflect in GST-03 submission?
This guide will help you out. All non-refundable deposit amount are inclusive tax.


Type of supplies Tax Rate GST-03
Standard Rated (SR) 6% 1. Total Value of Standard Rated Supply (5a)

2. Total Output Tax (5b)

Zero Rated (ZRL & ZRE) 0% 1. Total Value of Local Zero Rated Supplies

2. Total Value of Export Supplies

Customer Payment

A. Non-Refundable (SR)

1. ES43 - Interest income from deposits placed with a financial institution in Malaysia
Screenshot below from Journal Entry.
GST GST-03 Item12-14.jpg


2. ES43 - Realized foreign exchange gains or losses
a. Realized Gain in Foreign Exchange
Screenshot below from Customer Payment.
GST GST-03 Item12-15A.jpg


b. Realized Loss in Foreign Exchange
Screenshot below from Customer Payment.
GST GST-03 Item12-15B.jpg


3. ES - Financial Institution’s interest charges to customers for loan
Screenshot below from Customer Invoice.
GST GST-03 Item12-16.jpg


B. Non-Refundable (ZR)

[GST | Print GST-03...]

1. For instances, the GST-03 Item 12 = Rm62.886.40
GST GST-03 Item12-01.jpg


2. You can check the details by double click on the amount in Item 12.
3. Pop-up the item 12 detail.
GST GST-03 Item12-02.jpg


4. You can insert additional column, ie. From Doc Type and Trans Type.
a. From Doc Type will help you to identify the documents where it posted;
b. Trans Type will tell you the document posted from special case, eg. Realized Gain in Foreign Exchange.
GST GST-03 Item12-03.jpg


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


See also