3A Accounting System

Thursday, February 5, 2015

GST Tax Code for Input Tax

Tax Code
Tax Rate
Description
TX
6%
Purchases with GST incurred at 6% and directly attributable to taxable supplies.
IM
6%
Import of goods with GST incurred.
IS
0%
Imports under special scheme with no GST incurred (e.g. Approved Trader Scheme, ATMS Scheme)
BL
6%
Purchases with GST incurred but not claimable (Disallowance of Input Tax) (e.g. medical expenses for staff). Refer to topic "What is Blocked Input Tax"
NR
0%
Purchase from non GST-registered supplier with no GST incurred.
ZP
0%
Purchase from GST-registered supplier with no GST incurred. (e.g. supplier provides transportation of goods that qualify as international services).
EP
0%
Purchases exempted from GST. E.g. purchase of residential property or financial services.
OP
0%
Purchase transactions which is out of the scope of GST legislation (e.g. purchase of goods overseas).
TX-E43
6%
Purchase with GST incurred directly attributable to incidental exempt supplies.
TX-N43
6%
Purchase with GST incurred directly attributable to non-incidental exempt supplies.
TX-RE
6%
Purchase with GST incurred that is not directly attributable to taxable or exempt supplies.
GP
0%
Purchase transactions which disregarded under GST legislation (e.g. purchase within GST group registration).
AJP
6%
Any adjustment made to Input Tax e.g.: Bad Debt Relief & other input tax adjustment.

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