Malaysia GST GUIDE Version 5.0.7 Malaysia GST Ready Page 1
CONTENTS PAGE 3 4 5 6 7 8 8 8 9 11 12 13 14 15 15 1. Tax Schedule Maintenance 2. Maintain Tax Code 3. Tax Code Listing 4. GST Control Account Setup 5. Capital Goods Adjustment 6. GST Month End Process Step 1. Generate Invoice Step 2. Bad Debt Recover Step 3. O/S Invoice > 6 months Payment Step 4. Close GST Month Step 5. Generate GST03 7. GST Annual Adjustment 8. My GAF File 9. Audit Trail Report 10. Reports Page 2
1. Tax Schedule Maintenance Go to GST==> Tax Schedule Maintenance Fill up the period name, commerce date and expire date and click add to create a new tax schedule. Click Maintain to create new tax code or maintain tax code. Page 3
2. Maintain Tax Code c Tax Code Tax Type Transaction Type Description Explanation GL Account Rate : Tax code to be created. : Select from the drop down list, the type of the tax. : Supply or Purchase Tax Code. : Description of the tax code. : Explanation on the tax code. : Specify the GL account for these tax code. : Specify the tax rate. After fill up the information, click to add the tax code to the Tax Schedule. Click the List Tax Codes to display all the tax code which had been created earlier. Page 4
3. Tax Code Listing Listing of all the tax code under a tax schedule. To modify the tax code, click on the tax code on the left. To delete a tax code, click the Delete on the right. Page 5
4. GST Control Account Setup go to Setup==> Account Module Setup==> GST Control Account Setup You must setup the GST Control Account by assigning the proper account for GST control account. If you don't setup the GST control account, the software will generate error when you want to save a new transaction with GST tax. GST Input Tax Account GST Output Tax Account GST Expenses Account GST Control Account GST Adjustment AR Bad Debt GST Adjustment AP Bad Debt GST Bad Debt Account : Input Tax ( Current Assets ) : Output Tax ( Current Liability ) : Expenses ( Expenses Account ) : Tax payable to Custom Department ( Current Liability ) : AR Bad Debt Account ( Current Liability ) : AP Bad Debt Account ( Current Assets ) : GST Bad Debt Account ( Expenses Account ) Page 6
5. Capital Goods Adjustment ( CGA ) - Fill up the CGA Identifier And Name. - Interval Click : 10 years for land and building. : 5 years for others such as machinery equipment. to add the capital goods. Page 7
6. GST Month End Process go to GST==> GST Month End Process Follow step 1 to 5 to do the GST Month End Process Step 1 : Generate Invoice a) After you click Generate Invoice, the software will bring you to Delivery Order Transaction Listing Page. b) Select the DO which have not issue invoice and generate the invoice. Step 2 : Bad Debt Recover a) Click the Bad Debt Recover and the software will bring you to Bad debt Recover Page. b) Select the Bad Debt Recover from the listing and click the claim. If there is nothing listed in the bad debt recover listing, that mean there is no bad debt recover and you don't have to do anything and go straight to Step 3. Note : 1) Bad Debt Relief If you debtor didn't pay you after 6 month, you can claim Bad Debt Relief as you Input Tax. ( Because you had been accounted for output tax when you issue tax invoice to your debtor ) 2) Bad Debt Recover If you had claimed Bad Debt Relief for a particular invoice, and subsequently you received payment for this particular invoice from your debtor, then you must do Bad Debt Recover for this payment. Bad Debt Recover will work out the output tax to be pay back to the Custom Department and generate the necessary accounting entry. Page 8
Display a list of Sales Invoice which had been received payment and required to do Bad Debt Recover. Select the Invoice from here to do Bad Debt Recover. Display a list of Receipt for the Selected Sales Invoice. Accounting entry Select Invoice from then select receipt from, then fill up the Description and click The accounting entry will be generated in Step 3 : O/S Invoice > 6 months payment a) Click the O/S Inv > 6 Mths and the GST Payment For Outstanding Invoice >6 Months Page will appear. b) Select the payment from the listing and click the claim. If there is nothing listed in this page, that mean there is no payment for O/S Inv > 6 Months and you don't have to do anything and go straight to Step 4. Note : You can claim Input Tax on the payment you make for an outstanding invoice more than 6 months old. Page 9
Note : 1) Outstanding Invoice More Than 6 Month process If you have not pay your creditor after 6 month from the invoice date, you must pay back the Input Tax (which you had claimed earlier ) to the Custom Department. 2) O/S Invoice > 6 months payment : refer to payment make to Supplier's for the invoice which is more than 6 months old and had done the Outstanding Invoice More Than 6 Months process. Display a list of Purchase Invoice which had been paid and required to do Payment For Outstanding Invoice More Than 6 Months. Select a Invoice from here to proceed. Display a list of Payment from the Selected Purchase Invoice. Accounting entry Select Invoice from then select payment from, then fill up the Description and click The accounting entry will be generated in Page 10
Step 4 : Close GST Month go to Close GST Month End page and click submit to close the GST Month. Once you close the GST Month End, all the GST transaction for that month will be lock. Note : 1) Both Bad Debt Relief and Outstanding Invoice More Than 6 Month are done automatically by the software once you click the submit button. And the software will generate the accounting entry accordingly. 2) Outstanding Invoice More Than 6 Month If you have not pay your creditor after 6 month from the invoice date, you must pay back the Input Tax (which you had claimed earlier ) to the Custom Department. Page 11
Step 5 : Generate GST03 Click the generate GST03, and the Malaysia GST Filling Report Page will appear. Select the period to generate GST Filling Info, and the filling information will display as below : You can click the GST03 Form to generate the GST03 form, sign on the form and submit it to custom. You can click the Generate TAP File to generate the TAP file which you can upload to the custom through custom's TAP Portal. Page 12
7. GST Annual Adjustment Fill in the date and description and click Annual GST Adjustment button. The date must be in the second Taxable Period. Page 13
8. GST Audit File ( GAF ) Select the period to generate the GAF File or check the preview box and click generate to preview the GAF File. Page 14
9. Audit Trail Report These is for you to generate Audit Trail Reports. 10. Reports All GST Related Reports. Page 15