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Maintaining GST Rates

• Goods and Services Tax (GST) Rates need to be set up for the GST Control Chart of Accounts for a particular date range.
• They can be set up globally for all Divisions or differently for each Division.

Menu

If the Division has been set up to have its own GST, select the GST – Divisional menu option. If that menu option is disabled then the Division has already been set up to use the global settings.

Mandatory Prerequisites

Prior to entering the GST Rates, refer to the following Topics:

• Chart of Account - Maintaining Chart of Accounts

Screenshot and Field Descriptions

GST Type: this is a drop down list of the GST types that can be assigned to Chart of Accounts where GST is applicable.

 

Start Date: this is the date from which this GST Rate is effective.

 

Stop Date: this is the date when this GST Rate ends.

 

% Rate: this is the percentage rate of the GST.

 

COA: this is the Chart of Account for the GST control account that GST amounts will be recorded against. The GST Type for the COA on the Chart of Accounting maintenance screen must be set as either Supply - GST Account or Acquisition - GST Account.

 

GST Rates table: this displays the GST Rates already entered.

How Do I : Search For and Maintain Entities

These General Rules are described in the Fundamentals Manual: How Do I : Search For and Maintain Entities

How Do I : Add a new GST Rate

1. From the GST Type drop down list, select the GST type to set the rate for.
2. At the Start Date field, enter the date from which this GST Rate is effective.
3. At the Stop Date field, if required, enter the date when the GST Rate ends.
4. At the % Rate field, enter the percentage rate that will be applied to Transaction lines where the Chart of Account entered is set to the GST Type.
5. At the COA field, enter Chart of Account for the GST control account that GST amounts will be recorded against.
6. Click the Application tool-bar push button: Add.
7. Confirm that you wish to add the new record.

How Do I : Modify an existing GST Rate

1. Double click the row in the GST Rates table to change.
2. Change the appropriate values.
3. Click the Application tool-bar push button: Change.
4. Confirm that you wish to change the record.

How Do I : Delete a GST Rate

1. Double click the row in the GST Rates table to delete.
2. Click the Application tool-bar push button: Delete.
3. Confirm that you wish to delete the record.

Related Topics

GST Rates are associated with the following Topics:

• Chart of Accounts - Maintaining Chart of Accounts

• GST Report - Printing a GST Report