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GST reporting - Tax Paid Amount 0.00 in GST-03 and GST report for IM
Author: Wan Hua Ng Reference Number: AA-06496 Views: 6739 Created: 2015-05-21 18:08 Last Updated: 2016-01-27 19:32 0 Rating/ Voters

GST reporting - Tax Paid Amount 0.00 in GST 03 and GST report for IM

In K1 form:

Charges in K1 form

MYR

Value of imported goods

5000.00

Freight

200.00

Insurance

300.00

CIF

5500.00

GST[IM] for CIF@ 6%

330.00

 

In Freight Forwarder’s invoice:

Logistic Invoice

MYR

Tax paid to Customs as per K1 form [IM]

330.00

Freight

200.00

Insurance

300.00

Handling fee [TX]

400.00

GST 6% for Handling fee [TX]

24.00

Total in supplier invoice

1254.00

 


In GST report




In GST-03


 



Why?

It is due to missing GST Classification in Debit Expenses Account:

GL Account

Reference No.

Taxable Purchase

GST Classification

GST details

Debit

Credit

Input Tax

PI000003 

5500.00

[Total of K1 form ]

IM

Foreign Supplier Invoice details

330.00

 

Freight

PI000003 

 

 

 

200.00

 

Insurance

PI000003 

 

 

 

300.00

 

Handling Fee

PI000003 

400.00

TX

Forwarder supplier invoice Details

400.00

 

Input Tax

PI000003 

 

 

 

24.00

 

Supplier

PI000003 

 

 

 

 

1254.00

 

 

 

 

Total

1254.00

1254.00

 

Solution

You have to make sure insert GST classification TX for Input Tax account.

GL Account

Reference No.

Taxable Purchase

GST Classification

GST details

Debit

Credit

Input Tax

PI000003 

5500.00

[Total of K1 form ]

IM

Foreign Supplier Invoice details

330.00

 

Freight

PI000003 

 

 

 

200.00

 

Insurance

PI000003 

 

 

 

300.00

 

Handling Fee

PI000003 

400.00

TX

Forwarder supplier invoice Details

400.00

 

Input Tax

PI000003 

 

TXü

 

24.00

 

Supplier

PI000003 

 

 

 

 

1254.00

 

 

 

 

Total

1254.00

1254.00

 


For proper way of transaction entry, please refer to

http://knowledge.sage.my/index.php?/article/AA-05617/0/Sage-UBS-Transaction-File-Maintenance.html

Attachments
GST reporting - (IM) 0 Tax Paid Amount in GST 03 and GST report.pdf 0.4 Mb Download File
Rss Comments 2
  • [ Ang]: gst report vs gst return item 6a not tally for IM 2015-06-01 17:29 #

    when i enter transaction for imported goods:
    dr input tax IM
    cr forwarder *
    taxable amount - total of K1 form
    *if i blank - IM part not shown in gst report but gst return item 6a correct.
    *if i put IM - gst report shown correct but gst return item 6a taxable amount became taxable amount+gst

  • [Li Zhen Yap]: Re: gst report vs gst return item 6a not tally for IM 2015-06-02 12:18#

    Dear Ang,

    Thank you for your enquiry.

    Kindly do provide your print screen on GST report, GST-03, transaction record via Transaction File Maintenance by replying the email that we have sent to you.

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