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| Line 23: |
Line 23: |
| ==Stanadard Rate and Flat Rate Acquisitions (6a), and Input Tax (6b)== | | ==Stanadard Rate and Flat Rate Acquisitions (6a), and Input Tax (6b)== |
|
| |
|
| ==Cross Check Reports== | | ==Carry forward refund for GST?== |
| ===GST Listing===
| |
| ''[GST | Print GST Listing...]''<br />
| |
| :1. Select the '''date range''' or '''GST Process'''.
| |
| :2. You can select the tax parameter for '''ES''' and '''IES'''.
| |
| :3. Apply the '''GST Listing'''.
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| ::[[File: GST GST-03 Item12-04.jpg]]
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| <br />
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|
| |
|
| ::{| class="wikitable"
| | ==Local Zero-Rated Supplies== |
| |-
| |
| ! Tax Code !! Local Amount !! Explanation
| |
| |-
| |
| | IES || style="text-align:right;"| 5,000.00 || Local amount from Sales/Customer/Journal Entry/Cash Book (OR) documents related to tax code : '''IES'''
| |
| |-
| |
| | IES || style="text-align:right;"| Gain=7,886.40 || Net realized forex gain calculated
| |
| |-
| |
| | ES || style="text-align:right;"| 50,000.00 || Local amount from Sales/Customer/Journal Entry/Cash Book (OR) documents related to tax code : '''ES'''
| |
| |-
| |
| | '''Total''' || style="text-align:right;"| '''62,886.40''' || Total value shown in '''GST-03 Item 12'''
| |
| |}
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| <br />
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|
| |
|
| :4. Click on each tax type, you able to view the details. See the example in the screenshot below.
| | ==Export Supplies== |
| ::'''a. IES'''
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| ::[[File: GST GST-03 Item12-05.jpg]]
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| <br />
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| ::'''b. IES (Net Realized Forex Gain ONLY)'''
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| ::[[File: GST GST-03 Item12-06.jpg]]
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| <br />
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| ::'''c. ES'''
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| ::[[File: GST GST-03 Item12-07.jpg]]
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| <br />
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|
| |
|
| ===GL Ledger=== | | ==Exempt Supplies== |
| ''[GL | Print Ledger Report...]''<br />
| |
|
| |
|
| ====General Posting for IES & ES==== | | ==Supplies Granted GST Relief== |
| :1. In the General Ledger report, you have to insert the '''Tax''' grid column.
| |
| :2. Filter the Tax Code '''(ES and IES)'''.
| |
| ::[[File: GST GST-03 Item12-08.jpg]]
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| <br />
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| :3. Transactions related to '''ES'''. See the screenshot below.
| |
| ::[[File: GST GST-03 Item12-09.jpg]]
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| <br />
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| :3. Transactions related to '''IES'''. See the screenshot below.
| |
| ::[[File: GST GST-03 Item12-10.jpg]]
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| <br />
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|
| |
|
| ====Special Posting for Net Realized Gain Forex (IES)==== | | ==Goods Imported Under Approved Trader Scheme and GST Suspended== |
| :1. Check the Foreign Exchange Rate Gain or Loss Account setting at '''Tools | Options...(General Ledger)'''. For example,
| | |
| ::{| class="wikitable"
| | ==Capital Goods Acquired== |
| |-
| | |
| ! Default Account !! GL Account Code
| | ==Bad Debt Relief== |
| |-
| | |
| | Foreign Exchange Rate Gain Account || 530-000
| | ==Bad Debt Recovered== |
| |-
| | |
| | Foreign Exchange Rate Loss Account || 980-000
| | ==Output tax value breakdown into Major Industries Code (MSIC Code)== |
| |}
| |
| ::[[File: GST GST-03 Item12-11.jpg]]
| |
| <br />
| |
| :2. Select the '''Foreign Exchange Rate Gain or Loss Account''', click '''APPLY'''.
| |
| ::[[File: GST GST-03 Item12-12.jpg]]
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| <br />
| |
| :3. You can see the '''Foreign Exchange Rate Gain or Loss''' posting transactions in '''GL Ledger'''.
| |
| ::[[File: GST GST-03 Item12-13.jpg]]
| |
| <br />
| |
| ::{| class="wikitable"
| |
| |-
| |
| ! Account !! style="text-align:right;"| Local DR !! style="text-align:right;"| Local CR || Explanation
| |
| |-
| |
| | Total Gain on Foreign Exchange || style="text-align:right;"| 0.00 || style="text-align:right;"| 8,480.00 ||
| |
| |-
| |
| | Total Loss on Foreign Exchange || style="text-align:right;"| 593.60 || style="text-align:right;"| 0.00 ||
| |
| |-
| |
| | Net Realized Forex || style="text-align:right;"| 593.60 || style="text-align:right;"| 8,480.00 || 8,480.00 - 593.60 = '''7,886.40 GAIN (IES)'''
| |
| |}
| |
| <br />
| |
|
| |
|
| '''NOTE: '''
| |
| RMCD has confirmed that '''Net Realised Gain in Forex ONLY''' need to add into '''GST-03 item 12 Total Value of Exempt Supplies'''.
| |
| Tax code = '''IES'''
| |
| <br />
| |
| '''Net Realised Loss in Forex''' will be '''NIL'''.
| |
|
| |
|
| ==Summary: Comparison between GST-03, GST Listing and Ledger Report==
| |
|
| |
|
| :Here is the result summarized:
| |
| ::{| class="wikitable"
| |
| |-
| |
| ! style="text-align:left;"| Description !! GST-03 !! GST Listing !! Ledger Report
| |
| |-
| |
| | style="vertical-align: top;" | IES || || style="text-align:right;"| 5,000.00 || style="text-align:right;"| 5,000.00
| |
| |-
| |
| | style="vertical-align: top;" | IES (Realized Gain Forex)|| || style="text-align:right;"| 7,886.40 ||
| |
| Forex Gain = 8,480.00 <br />
| |
| Forex Loss = -593.60 <br />
| |
| '''Net Forex Gain = 7,886.40'''<br />
| |
| |-
| |
| | style="vertical-align: top;" |ES || || style="text-align:right;"| 50,000.00 || style="text-align:right;"| 50,000.00
| |
| |-
| |
| | Total Item 12 (ES + IES) || style="text-align:right;"| 62,886.40 || style="text-align:right;"| 62,886.40 || style="text-align:right;"| 62,886.40
| |
| |}
| |
| <br />
| |
|
| |
|
| ==See also== | | ==See also== |
| * [[Print GST Listing]] | | * [[Print GST Listing]] |
| * [[Print GST-03]] | | * [[Print GST-03]] |
