GST System Changes Newsletter

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Thu Aug 13 @10:00 - 05:30PM
Webinar: Latest Sales Tax Mechanism and Exemption Facilities for Manufacturers and Traders Updates
Fri Aug 14 @09:00 - 05:00PM
Mastering Management Accounting and Management Accounting Reports
Fri Aug 14 @10:00 - 05:30PM
Webinar: Latest Sales Tax Mechanism and Exemption Facilities for Manufacturers and Traders Updates
Mon Aug 17 @09:00 - 05:00PM
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Fri Aug 28 @09:30 - 05:30PM
Mastering Data Analysis Tools using Microsoft Excel

Questions and Answers from training

Questions and Answers from training on Apr 14, 2016 (Kota Kinabalu)

Thank you for your participation for the training held on April 14, 2016.

The following is the question and answer summary for the training on April 14, 2016 (Kota Kinabalu).

  1. Lookup for GST Status - Legal name and trading name. The former is legal registration entity name while the latter is brand name.
  2. Accounting entries using purchase clearing accounts to record K1 value. Example is given in the attached PDF file.
  3. Bad debt written off after claiming bad debt relief. It will reverse from the GST Refund for Bad Debt account
  4. Bad debt written off without claiming bad debt relief. It will treat as GST expense that is not a tax deductible item. It becomes output tax borne by the business.

Please download the attachment to understand the facts to support the answers.

Attachments:
Download this file (QA-APR142016.pdf)Question and Answer - Apr 14 2016[Q&A]145 kB

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GST System Changes