Who is online?
In total there are 4 users online :: 0 Registered, 0 Hidden and 4 Guests :: 1 Bot

None

[ View the whole list ]


Most users ever online was 25 on Thu Mar 12, 2015 5:00 pm
Latest topics
» This forum no longer accept new postings
Fri Jul 03, 2015 9:34 am by joseph

» Industrial Diesel
Fri Jul 03, 2015 9:11 am by joseph

» ICT industry
Fri Jul 03, 2015 9:10 am by joseph

» Input Tax (Passenger Car for business purpose)
Mon Jun 29, 2015 5:25 pm by joseph

» Conditions to Claim Input Tax
Mon Jun 29, 2015 3:12 pm by joseph

» Additional industry code
Sun Jun 28, 2015 5:53 pm by joseph

» Sales Commisions
Fri Jun 26, 2015 7:44 pm by Poon1

» Advance payment for services not rendered yet
Thu Jun 25, 2015 4:13 pm by joseph

» Turnover Below RM500,000 subequent to GST registration
Wed Jun 24, 2015 6:16 pm by joseph

» Consigment Sales
Wed Jun 24, 2015 6:00 pm by joseph

» GST Accounting Entries
Tue Jun 23, 2015 10:21 pm by joseph

» Advance payment received from Customer
Tue Jun 23, 2015 5:45 pm by joseph

Statistics
We have 351 registered users
The newest registered user is emtng

Our users have posted a total of 570 messages in 139 subjects
Search
 
 

Display results as :
 


Rechercher Advanced Search


Discontinuing my support

View previous topic View next topic Go down

Discontinuing my support

Post by joseph on Wed Apr 08, 2015 10:50 am

This is my last posting. Regrettably, I will stop supporting this forum with immediate effect.

I have prepared a list of 63 common GST accounting entries, complete with examples, tax codes and where applicable references to the GST Act, Regulations, Orders, DG's Panel Decisions and/or GST Guides.

I have also prepared a list of common supplies and purchases/acquisitions and their corresponding recommended tax codes.

For mixed suppliers, I have created a CGA computation worksheet.

All the 3 files are in Excel format.

I have invested much time and effort on this GST project, attended many training and seminars, made numerous phone calls and met up with senior Customs officials and obtained feedback from prominent GST Tax Consultants to prepare the files.

While I do not guarantee that they are in complete compliance with Customs requirements, I am confident they are reasonably well prepared and in accordance with the laws.

If you are interest to have them, I am charging RM500 for the 3 files.

If you purchase the files, I will continue to support you via e-mails, for a period of 3 months.

Please e-mail me at josephteh@hotmail.com if you are interested.

Thank you all for your participation in this forum.

Signing off for the last time.

Best regards
Joseph Teh

List of common GST accounting entries:

  1. Recording Sales Transactions (Standard-Rated Supply)
  2. Tax Invoice Issued Late (after 21 days from Basic Tax Point)
  3. Advance Payment received from Customer (without issuing customer Tax Invoice)
  4. Bad Debt Relief & Recovery (1)
  5. Bad Debt Relief & Recovery (2)
  6. Local Zero-Rated Supplies
  7. Export Zero-Rated Supplies (Customs K2 Form required)
  8. Incidental Exempt Supply (Financial Services)
  9. (Non-Incidental) Exempt Supply
  10. Sale of goods or services where invoice issued or payment received before effective date, but delivery only after effective date (Transitional Issue)
  11. Disposal of Capital Goods
  12. Disposal of Manufacturing Waste
  13. Unexplained Stock Quantity Loss
  14. Non-business or Private Use of Business Assets
  15. Reimbursement of Expenses
  16. Disbursement of Expenses
  17. Recording Purchase Transactions  (Standard-Rated Purchase)
  18. Online Purchase of Stocks from Overseas
  19. Supplier Invoices Remaining Unpaid for > 6 Months
  20. Purchase of Capital Goods (Fixed Assets) - Input Tax Not Blocked
  21. Purchase of Capital Goods (Fixed Assets) - Input Tax Blocked
  22. Company Cars
  23. Advance Payment to Supplier (no Tax Invoice)
  24. Refundable Deposit (not for contra against payments)
  25. Retention Sum
  26. Out-of-Scope Supply
  27. Consideration Paid for neither A Supply of Goods nor Supply of Services
  28. Independent Director Who Is Not An Employee
  29. Gifts of Goods (Gift Rule)
  30. Gifts of Services
  31. Purchases from Non GST-Registered Suppliers
  32. Purchase/Acquisition of Exempt Items
  33. Loan Received & Interest Payable (Exempt Supply)
  34. Purchases of Zero-rated Items
  35. Staff Claims
  36. Imported Goods
  37. Imported Services
  38. Rental Income from Commercial Properties
  39. Rights Granted for Life (or for a period ≥ 30 years) by Club or Other Similar Body
  40. Rights Granted for a period < 30 years by Club or Other Similar Body
  41. Hire Purchase Transactions
  42. Residual Input Tax Claim (for mixed supplier)
  43. Capital Goods Adjustments (CGA) (for mixed supplier)
  44. Transactions between GST-Registered Group Companies
  45. Monetary Vouchers
  46. Non-Monetary Vouchers
  47. Sale of Monetary Vouchers by Third Parties on Commission Basis
  48. Sale of Non-Monetary Vouchers by Third Parties on Commission Basis
  49. Unredeemed Unexpired Non-Monetary Vouchers @ 01/04/15 (Transitional Issue)
  50. Loyalty Points (for Program Operator)
  51. Loyalty Points (for Program Operator & Redemption Partner, both same person)
  52. Expiry of Unredeemed Loyalty Points (for Program Operator)
  53. Loyalty Points (for Merchants - Program Partner & Redemption Partner)
  54. Vending Machine Sales
  55. Consignment Sales (for Consignor)
  56. Sales of Goods by Agents (for Principal)
  57. Sales of Prepaid Reload Phone Cards by MOL's Merchant
  58. Sales of Prepaid Reload Phone Cards by MOL
  59. Payment of GST
  60. Special Sales Tax Refund for Goods Held On Hand
  61. Imported Goods under Approved Trader Scheme (ATS)
  62. Staff Usage over Limits
  63. Fines & Penalties

Example:

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

Back to top Go down

Re: Discontinuing my support

Post by joseph on Wed Apr 08, 2015 6:04 pm


A few wrote to me to say my charges of RM500 too expensive.

For a limited time only, RM300 for the 3 Excel files + 3 months e-mail support in answering your queries.

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

Back to top Go down

Re: Discontinuing my support

Post by leekk on Thu Apr 09, 2015 12:05 am

Wow.. the GST Accounting Entries and Tax Code Mapping files are so comprehensive. Better than any of the seminars I have attended. Worth the money! Thanks Joseph for making available the files.

leekk

Posts : 1
Join date : 2015-01-31

Back to top Go down

Re: Discontinuing my support

Post by joseph on Mon Apr 13, 2015 12:25 pm

Added one more GST Accounting Entry:

64. For non GST-registered Companies using GST-compliant Accounting Software

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

Back to top Go down

Re: Discontinuing my support

Post by joseph on Wed Apr 15, 2015 6:25 am

The RM300 GST Package is for your specific business purpose only. Not for use to help your clients.

Any GST queries should strictly refers specifically to your business and the industry your business is in.

If you are a GST Tax Consultant, the package is not meant for you.

I will continue to support general queries on this forum during my spare time.

If you want to know about how to record GST transactions and/or what tax codes to use, please sign up for the RM300 package.

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

Back to top Go down

Re: Discontinuing my support

Post by penangmali on Wed Apr 15, 2015 9:02 am

We would like to engage you as a GST Consultant for our company. Would you be interested?

penangmali

Posts : 1
Join date : 2014-09-27

Back to top Go down

Re: Discontinuing my support

Post by joseph on Wed Apr 15, 2015 10:19 am

No, thanks. Appreciate your offer. I have a full time job.

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

Back to top Go down

Re: Discontinuing my support

Post by Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum