Sample Guide for GST Tax Code in Chart of Account

19 Answer(s)

Last update: 8 August 2015

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AP – Purchase Code
Purchase TX / NR
Credit note / Goods Return TX / NR

         

AR – Sales Code
Sales SR
Credit note / Goods Return SR

 

                  

Cost of Sales Code
Purchases TX / NR
Transportation Charges TX / NR
Labelling & printing TX / NR
Handling Charges TX / NR
Packaging Materials TX / NR

               

FINANCE EXPENSES CODE
Bank charges TX
HP interest EP
Loan interest EP
Interest Charges EP

      

TAX EXPENSE CODE
TAX EXPENSE OP
PCB OP

                        

SELLING EXPENSES CODE
Entertainment – GST Claimable (Existing Customers, Employee) TX
Entertainment – GST Not Claimable (Prospect) BL
Travelling Expenses TX / OP
Marketing Expenses TX
Sponsership & Seminar TX
Hotel & Accommodation TX
Petrol & Toll & Parking TX / EP

                                                                                       

ADMINISTRATIVE EXPENSES CODE
Accounting Fees TX / NR
Audit Fees TX / NR
Advertisement TX / NR
Professional Fees TX / NR
Assessment & quit Rent OP
Legal Fees TX / NR
Bad debts Written Off AJP
Depreciation OP
Director’Remuneration OP
Director Fee OP
Office supplies TX / NR
Telephone charges TX
Consultancy Fees TX / NR
Office Expenses TX / NR
Foreign Worker Levies TX
Postage & Courier TX / NR
Printing & Stationeries TX / NR
Rental TX / NR
Secretarial Fees TX / NR
Insurance TX / BL
Reference book / magazine TX / NR
Exhibition Costs TX / NR
Penalty OP
Taxation Fees TX / NR
Licence Fees OP
Traning Fees TX / NR
Donation OP
Transport fees TX / NR

                                       

Employment Expenses CODE
Allowance OP
Bonus OP
Commission OP
Incentive OP
Salaries & Wages OP
EPF OP
Medical Fees BL
Ex-Gratia OP
Sosco OP
Staff Welfare TX / BL
Staff Overtime OP
Staff Insurance TX / BL

                              

OTHER EXPENSES CODE
Discount Allowed SR
Repair & Maintenance TX / NR
Upkeep of air-cond TX / NR
Water & Electricity TX / NR
Upkeep of office equipment TX / NR
Upkeep of office TX / NR
Sunday Expenses TX / NR
Upkeep Of Motor Vehicles (Passenger Car) BL
Upkeep Of Motor Vehicles (Van, Trucks etc.) TX

               

REVENUE & EXPENSES CODE
Sales -Local SR
Sales-Export ZRE
Miscellaneous Income SR
Gain In Foreign Exchange ES43

                  

OTHER INCOME CODE
Purchase Discont/ Goods Return TX / NR
Commission Receive SR
Insurance Claims OS
Rental Receivable SR
Management Fees SR

Source: Sample Guide from QNE

Answered on July 28, 2015. 2015-07-28 12:25:06

IS IT ALL THE TRANSACTION  NEED PUT THE GST TAX CODE ?

on September 10, 2015. 2015-09-10 02:17:16

how about new tax code ? can teach when we have to used new tax code ?

on August 25, 2016. 2016-08-25 02:15:05
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how to use the tax code for RP??

Answered on August 25, 2016. 2016-08-25 02:45:59
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Either way also can.  It depend on your GST accounting software whether it allow you to leave blank.

Answered on August 26, 2016. 2016-08-26 05:51:54
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Hi Admin,

Now July2016 already..  the gst code got any changes ?

Answered on July 1, 2016. 2016-07-01 03:02:56
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There is no changes on GST tax code.

Answered on July 15, 2016. 2016-07-15 06:51:14
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Answered on July 22, 2016. 2016-07-22 05:46:39
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As you can see from page 36 to page 46 the standard Tax Code remains the same.  This latest revised guide is for additional Tax Code and the GST software accounting report and filing.

Answered on July 25, 2016. 2016-07-25 01:34:16
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Hi, how about July 2016 year new GST code? Petrol 95 put RP?

Answered on July 26, 2016. 2016-07-26 03:16:24
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If your GST Accounting software can create a new code RP then proceed with it.  Otherwise stick back to ZP.

Answered on July 26, 2016. 2016-07-26 04:09:04
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how about the new tax code ? can help teach when we have to used….

Answered on August 25, 2016. 2016-08-25 02:12:06
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It is almost similar to the old tax code except there are some subsidiary tax code to certain origin tax code.  Let’s see how it is when the time come.

Answered on August 25, 2016. 2016-08-25 02:44:41
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Those goods / items given Relief by the Ministry.  Please refer to GST Guide on Relief Supplies.

Answered on August 25, 2016. 2016-08-25 05:48:56
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hi it is all expenses that is not subject to gst , will have to put the code?

Answered on August 25, 2016. 2016-08-25 09:33:02
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You can put blank. It is advisable to assign a tax code for each expenses for reference in  GST audit later.

Answered on August 26, 2016. 2016-08-26 00:39:37
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cms, want to know. tnb chg for kwtbb tax code is OP right ? hear from some one said start 01/08/2016 no need to assign tax code ? how, pls help.

Answered on August 26, 2016. 2016-08-26 02:38:39
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Dear CMS,

Can I know the tax code for condolence advertisement and condolence stand?
I put them in advertisement account. Can I claim the input tax??

Answered on September 15, 2016. 2016-09-15 00:38:39
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TX (from GST registered person)  / NR (from non-GST registered person)

Answered on September 15, 2016. 2016-09-15 01:21:13
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How about bank interest income received for current account from our bank?
What GST code need to assign? Can I just leave it blank?

Answered on December 21, 2016. 2016-12-21 05:41:23
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ES43 (old tax code) or IES (new tax code)

Answered on December 21, 2016. 2016-12-21 09:43:07
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