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GST reporting – Input tax claim for Capital Goods (Wholly taxable supply company)
Author: Wan Hua Ng Reference Number: AA-07281 Views: 7305 Created: 2015-06-11 15:53 Last Updated: 2015-06-11 15:53 0 Rating/ Voters

GST reporting – Input tax claim for Capital Goods (Wholly taxable supply company)

 Step 1 : Enter supplier invoice entry with GST

 

You are encouraged enter the invoice via either supplier invoice or sundry expenses

 

GL Account

Tax code

Debit

Credit

Fixed asset, e.g. Office equipment

TX

8000.00

 

Input Tax

TX

480.00

 

Creditor / Bank / Cash

 

 

8480.00

 

This is to ensure the purchase taxable amount and input tax amount are captured into the GST-03 – 6 (a) & 6 (b)

 

Step 2 : Enter the details in Capital Goods Maintenance

 

Enter the details in Capital Goods Maintenance, please make sure the purchase date is entered correctly, because it is used to determine the amount to be shown in which taxable period in the GST-03.

The capital goods purchase value here will be captured into the GST-03 – 16)

 

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Rss Comments 2
  • [ jean]: capital goods maintenance 2015-08-07 10:14 #

    cannot delete after key in fixed assets in capital goods maintenance?

  • [Li Zhen Yap]: Re: capital goods maintenance 2015-08-07 16:02#

    Dear Jean,

    Thank you for your enquiry.

    It is correct. We are enhancing it to be editable and it will be available soon.

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