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GST Group Registration, Generate Journal after GST Return Submission

Article ID: 53925 Email Print
Question
for 1 company GST submission posting, we just click the button. But for group, how the posting work?

Answer

It is the same, every company are require to generate the figures for payable and claimable, then depends on which member will pay on behalf and every company need to pass a journal to contra off the GST payable account e.g.

If Sample Trading (M) Sdn. Bhd. Paid on behalf of the Sample Trading (JB) Sdn. Bhd.

In the book of Sample Trading (JB) Sdn. Bhd., the journal should be :

Dr. GST Payable Account

Cr. Sample Trading (M) Sdn. Bhd.


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Article Details
Views: 5542 Created on: Sep 20, 2014
Date updated: Sep 20, 2014
Posted in: GST related, Optimum
Tagged: GST


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