Which GST tax code should i use ?

1 Answer(s)

Output Tax –  Tax collected on behalf of Government

Tax Code Tax Rate Stands For Description
SR     6% Standard Rate Standard-rated supplies with GST Charged.
ZRL   0% Zero Rate – Local Local supply of goods or services which are subject to zero rated supplies.
ZRE   0% Zero Rate – Export Exportation of goods or services which are subject to zero rated supplies.
ES43 0% Incidental Exempt Incidental Exempt supplies.
DS   6% Deemed Supplies Deemed supplies (e.g. transfer or disposal of business assets without consideration).
OS   0% Out of Scope Out-of-scope supplies.
ES   0% Exempt Supplies Exempt supplies under GST
RS   0% Relief Supplies Relief supply under GST.
GS   0% Disregards Supplies Disregarded supplies.
AJS   6% Adjustment Any adjustment made to Output Tax e.g : Longer period adjustment, Bad Debt recover, outstanding invoice > 6 months& other output tax adjustments.



Input Tax – tax  incurred by the businesses can be claimed back from the Government

Tax Code Tax Rate Stands For Description
TX   6% Standard Rate Purchases with GST incurred at 6% and directly attributable to taxable supplies.
IM   6% Import – Goods Import of goods with GST incurred.
IS   0% Import – Special Scheme Imports under special scheme with no GST incurred (e.g. Approved Trader Scheme, ATMS Scheme).
BL   6% Purchase – Block (Blocked Input Tax) Purchases with GST incurred but not claimable (Disallowance of Input Tax) (e.g. medical expenses for staff).
NR   0% Non GST Supplier Purchase from non GST-registered supplier with no GST incurred.
ZP   0% Zero Rate Purchase from GST-registered supplier with no GST incurred. (e.g. supplier provides transportation of goods that qualify as international services).
EP   0% Exempt Purchases exempted from GST. E.g. purchase of residential property or financial services.
OP   0% Out of Scope Purchase transactions which is out of the scope of GST legislation (e.g. purchase of goods overseas).
TX-E43 6% Directly to incidental Purchase with GST incurred directly attributable to incidental exempt supplies.
TX-N43 6% Directly to non-incidental Purchase with GST incurred directly attributable to non-incidental exempt supplies.
TX-RE  6% Not directly to taxable or exempt Purchase with GST incurred that is not directly attributable to taxable or exempt supplies.
GP   0% Disregarded – Group Purchase transactions which disregarded under GST legislation (e.g. purchase within GST group registration).
AJP   6% Adjustment Any adjustment made to Input Tax e.g.: Bad Debt Relief & other input tax adjustment.



Also see Sample Guide for GST Tax Code in Chart of Account.

Answered on July 6, 2015. 2015-07-06 05:09:09
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