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Mixed Supply - GST Control
Mixed Supply - GST Control
- Vivi Lye (Unlicensed)
- Syeda Nuzhat Tahseen (Unlicensed)
Owned by Vivi Lye (Unlicensed)
Scenario for Residual Input Tax (Example : Rentals or utilities):
| Tax Type | Transaction | Amount (Before Tax) | Tax Code | Tax Rate | Tax Amount | Total Amount |
|---|---|---|---|---|---|---|
| Inclusive | SINV | RM943.40 | TX-RE | 6% | RM 56.60 | RM 1, 000.00 |
** Due to Input Tax Return Ratio = 77.78% (IRR formula), Thus can claim only 77.78% of RM 56.60 = RM 44.02
During SINV:-
Debit : GST_Input RM 56.60
Debit : Utilities RM943.40
Credit : AccPayable RM 1000.00
When do Tax Filing for Residual Input, GST Input RM 56.60 has to be reduced to RM 44.02. (RM 56.60 - RM 44.02 = RM 12.58)
Debit : GST_Control RM 12.58
Credit : GST_Input RM 12.58
Private & Confidential