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Utilities, Bonus, Freelancer, Expenses incurred before 1/4.

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Utilities, Bonus, Freelancer, Expenses incurred before 1/4.

Post by soukaen on Wed Apr 22, 2015 3:42 pm


Really appreciate who can help me in correct GST code for the following for accounting transaction.

1. Utilities- Office is rented. Electricity and water bill is under landlords name. So it is not allow to claim input.
in Accounting- (supposingly) Eg total bill RM1060.00. Dr Electricty RM1000 (Tax code TX) Cr Bank RM1060.00. Since we cant claim this as input tax RM60.00, How should we account for this amount ? (or use different Tax code ?)
Or i can record it as , Which is correct ? Embarassed
DR electricity RM1000
DR GST unclaimable Account (under P&L) RM60
CR Bank RM1060

2. For those expenses incurred before 1/4/15, claimed in April 2015. Do we need to assign tax code for the transaction ? and what was that ?
eg. Electricity 22/2/15-22/3/15 - RM1000 -NR ? scratch
Staff refreshment expenses receipt 31/3/2015 - RM1003

3. All staff medical claim is under tax code BL ?

4. Bonus is OP ?

5. Staff insurance is BL. What if company buy personal accident insurance for staff who work at site, nominee/ beneficiary is company. Can company claim for the input tax ? TX

6. Our company hired freelancer. When we record, which account is appropriate ?
Dr Freelancer or Dr Professional Fee

Since the freelancer is mostly individual. The tax code assigned is NR ?

7. Office rental using which tax code? (Landlord is non registered gst) NR ?

8. Employer cash withdrawal - use which tax code ? scratch

9. Car loan - Monthly repayment eg RM2700 - We need to separate the to 2 transactions in assign tax code? Principal and loan interest ? (usually record as RM2700, At the end of year passed a journal for loan interest) eg now monthly
Principal - RM2000 (Tax code OP)
Loan Interest - RM700 (Tax code EP)

10. EPF, SOCSO, PCB, CP500, Wages, stamp duty - OP ?

11. Service tax paid in April 2015 for period 1/2/15-31/3/2015 is OP ?

Really appreciate your time and effort to helping me out I love you


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Join date : 2015-04-22

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Re: Utilities, Bonus, Freelancer, Expenses incurred before 1/4.

Post by joseph on Sat Apr 25, 2015 1:23 pm

For questions on GST accounting entries and tax codes, please sign up for the RM300 package:


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.


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