SUPPLIES SPANNING GST

MEANING OF SUPPLY SPANNING GST -Payment or invoice before effective date and supply takes place on and after effective date e.g. sales of goods, airline tickets and cinema
GENERAL RULE

-Any supply before appointed date not subject to GST

-Any supply on or after appointed date subject to GST

EXCEPTION TO THE GENERAL RULE

-Supply of warranty

-Provision of services where service tax has been charged

-Provision of goods where sales tax has been charged

-Non reviewable contracts

 

GST SIMPLIFIED TAX INVOICE

GST Registered person can issue simplified tax invoice upon approval from DG. This type of invoice is used by retailers who normally generate large volume of invoices daily to the end consumers. Examples : supermarket, restaurants, petrol kioks and other point of sales outlets.

It can take a form of an invoice, receipt, voucher or any other similar document as long as it has all the required information of a simplified tax invoice.

GST TAX INVOICE- SELF-BILLED INVOICE

Recipient is allowed to issue self-billed invoice for supply in his possession if

  • The value at the time of supply is not known by the supplier;
  • The recipient and the supplier are both registered persons;
  • Both agree in writing;
  • Both agree that no tax invoice will be issued by supplier.

GST TAX CODE : TX-CG (NEW TAX CODE)

TAX CODE : TX-CG

CGA (Capital Goods Adjustment) is the adjustments that need to be made to the initial amount of input tax claimed, during a specified period if there is a change in the proportion of taxable use of the capital goods.

GST TAX CODE : AJP

TAX CODE : AJP

Any adjustment made to input tax such as bad debt relief & other input tax adjustments.

Example : Pay back input tax claim due to not paying supplier for more than 6 months.