can I know how normally the double entries look like for BL (Block input tax)? Example the company purchase a motor vehicle (100k), the entry will be CREDIT Creditor 106k, DEBIT Fixed Asset 100k & DEBIT GST Expenses 6k?
Yes. the posting are:
DEBIT Fixed Asset 100k
DEBIT GST Expenses 6k
CREDIT Creditor 106k
In the Tax Code Maintenance, if you refer to "BL", the posting account we should select "GST Expenses" instead of "GT Input Tax".
once you select this tax code, GST 03 and other GST Details Listing will not include this transaction.