Journal Transaction for GST Payable
| gst_Output Tax | |||||||
| April | SR / CM | SR | 100 | April | INV | SR | 3,000 |
| April | CM (Credit Note) | SR | 100 | April | RCT | SR | 100 |
| April | Refund Deposit | SR | 100 | April | CM (Debit Note) | SR | 100 |
| April | gstPayable | 3100 | April | INV | DS | 100 | |
| April | GST Adj. | AJS | 100 | ||||
| gst_Input Tax | |||||||
| April | GRN / SINV | TX | 1,000 | April | PR / CM (Debit Note) | TX | 100 |
| April | SINV (expenses) | TX | 100 | April | gstPayable | 1300 | |
| April | JTXN (Imported Goods) | IM | 100 | April | gst_Expenses | 100 | |
| April | GST Adj. | AJP | 50 | ||||
| April | CM (Credit Note) | TX | 50 | ||||
| April | PV (expenses) | TX | 100 | ||||
| April | SINV (expenses) | BL | 100 | ||||
| gstPayable | |||||||
| April | Jtxn (gst_Input Tax) | 1,300 | April | Jtxn (gst_Output Tax) | 3,100 | ||
This journal transaction create after the GST filing
Based on the above Sample Transaction for month of April 2015, the Journal Entry date is 2015-04-30
1) Transfer the gst_Output Tax (tax code: SR, DS, AJS) to gstPayable account, amount RM 3100 (refer to GST-03 form, 5a)
Debit: gst_Output Tax RM 3,100
Credit: gstPayable RM 3,100
2) Transfer the gst_Input Tax (tax code: TX, IM, AJP) to gstPayable account, amount RM 1300 (refer to GST form, 6b)
Debit: gstPayable RM 1300
Credit: gst_Input Tax RM 1300
3) Transfer the gst_Input Tax (tax code: BL) to gst_Expenses account, amount RM 100
Debit: gst_Expenses RM 100
Credit: gst_Input Tax RM 100
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