I got a situation here for tax return for property developer where the system can not calculate the partial exemption even I have entered an exempt supply and standard rated supply (for sales, mix supply) and I did insert expenses (for expenses) with tax code RE (residual expenditure). the outcome for printing the partial exemption adjustment under tax return say " No partial exemption adjustment is required according to your current tax return history" within the period.
In the List of Tax Return before you click the button "New Tax Return" to create a New Tax Return, in the top menu bar there is option for "Simple" and "Partial Exemption", please select "Partial Exemption". if you have already save the Tax return as Draft, you can also change from "Simple" to "Partial Exemption" then double click and you should be able to see the additional tab "Details" and "Partial Exemption" in the Tax return form.
It is advisable to follow the guide steps by steps at https://drive.google.com/a/qne.com.my/file/d/0By78lGQcXTfjZXhRRktMOTVPUEU/view
I noted that longer period adjustment after the fiscal year end. My question is for my first submission it does not appear partially exemption for the residual expenditure which suppose be computed by our system for the 1St submission of tax return even I given all the data input to the system. Such as SR and EXL for selling commercial building and residential houses with certain RE for expenses. Nothing come out from partially exemption in GST return. Please do give me an example step by step. Thanks
Dear Sir, Longer period adjustment is required only after a few GST Tax return, you need to perform first and submit the regular Tax return then only you can perform longer period / partial exemption adjustment. for more information please visit - http://support.qne.com.my/article/3203/56892/mix-supply-partial-exemption-adjustment-annual-longer-period-adjustment . thanks.