GST-Submission of Final GST Return

From eStream Software
Jump to: navigation, search

Introduction

Pursuant to Section 6, Goods and Service Tax (Repeal) Act 2018, all GST Registrants are required to submit the GST-03 Return on the final taxable period (ie. 31 Aug 2018) and 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.
  • 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.

GST-FinalReturn 01.jpg


How to enter the input tax 6% claimable from Purchase/Supplier invoice after 1 Sept 2018?

For example, on 13 SEPT 2018, my company has received a supplier tax invoice dated 07 MAY 2018 and amount inclusive GST is RM10,600.
GST-FinalReturn 02.jpg


Enter at Purchase Invoice

Menu: Purchase | Purchase Invoice

GST-FinalReturn 03a.jpg


1. Set Date.... to record the original invoice date (eg. 07 MAY 2018).
2. Set Posting Date... to post this transaction into GL reporting as at 13 SEP 2018.
Note: 
To enable to set Posting Date, the Double Document Module is required.
3. Set Tax Date...to declare this GST input tax into Final GST Returns (31 AUG 2018).
GST-FinalReturn 04.jpg


Enter at Supplier Invoice

Menu: Supplier | Supplier Invoice

GST-FinalReturn 05.jpg


1. Set Date.... to record the original invoice date (eg. 07 MAY 2018).
2. Set Posting Date... to post this transaction into GL reporting as 13 SEP 2018.
Note: 
To enable to set Posting Date, the Double Document Module is required.
3. Set Tax Date...to declare this GST input tax into Final GST Returns (31 AUG 2018).
GST-FinalReturn 06.jpg



Enter at Cash Book (PV)

Menu: GL | Cash Book Entry...

GST-FinalReturn 07.jpg


1. Set Date.... to record the original invoice date (eg. 07 MAY 2018).
2. Set Posting Date... to post this transaction into GL reporting as at 13 SEP 2018.
3. Set Tax Date...to declare this GST input tax into Final GST Returns (31 AUG 2018).
GST-FinalReturn 08.jpg


Final GST Returns

Menu: GST | New GST Return

Process GST Returns up to 31 AUG 2018.
Items Value
6a 10,000
6b 600
NOTE: 
* Final GST Returns until 31 AUG 2018.
* Last date of submission for the Final GST Returns is 29 DEC 2018.


See also