GST @ customs

Zappy

I get an invoice from the freight company for GST on imports. I tag the amount with the code CAG and alter the amount so that it is 100%. When I run the tax liability report, this amount doesnt show. It is however picked up on the BAS pro forma.

Ive got to be missing something. How can I get the GST paid to customs to show on the tax liability report?

Please and thank you

Zappy

JudyA

Hi Zappy,

This is the only way I know how to process these type of invoices for imports (see attached) and have the GST correct in the tax reports.

Processing GST charges on Imported Goods.pdf

HTH

JudyA

That's a bit trickier. We also pay in advance for the goods (in USD or EUR), but I can usually get my hands on a proforma invoice. Any chance you can do that?

You can still enter the customs invoice with the appropriate codes to generate the correct GST figures. The figures for the NTA code on the various tax reports will vary widely each month or quarter, but since they do not factor into the BAS figures, I still think the above method will work for you.

JudyA

Hi Zappy, it still sounds like you're trying to enter a customs invoice from your freight forwarder. GST is paid to them for the value of the goods. I use this method to enter the correct amount of GST, so that it shows on the tax report. This is how one of my recent entries looks:

I'm not sure why this wont work for you, but I don't have any other suggestions for you.

Kris_Williams

Yes that’s how I do it too

JudyA

It works for me!

So, just say your invoice from the freight forwarder has a figure of $ 10K GST payable. I would then enter the material cost as $ 100,000 to generate the correct GST figure. Reverse out the material cost on the next line with the code NTA. The GST should then appear in your tax reports. Easy done.

Acctd4

Hi Zappy

I have written a detailed Help doc on this if you’d like it ?

It’s along the lines of the method Judy describes above but the tax code is left blank on the Customs Bill reversal line (in order to retain the “Value” amount for the BAS) & the original Supplier’s Bill/Chq also needs to be allocated differently to prevent doubling up.

(As per Judy’s example, it’s easier to enter the net figure amount - & reverse that - to generate the GST component, as then the 2 lines are the same ☺️)

Acctd4

Yes, my doc on it is more explanatory. Multiplying the tax is just so you have the gross amount, but the Customs doc shows the GST figure so it's easier to work with the net (by just adding a zero to generate this) 😊

... Should definitely show on ALL tax reports though - Obvious I know, but double-check the tax liability report basis & date range.

Kris_Williams

It shows on the tax summary and tax liability report on mine, I have used this method for many years

Acctd4

@Zappy Have you looked at the Tax Detail reports to confirm it's reflecting there ?

You should only see the 1 line for it (if you've entered the negative without a tax code. If you've coded both lines, the purchase value amount will not reflect in the overall total as the negative line will cancel it out again, hence my suggestion to leave the negative line uncoded) The applicable GST component should also show on the Tax Detail "Tax" report ?