The next few parts of this series cover tax codes for supplies of goods and services.
SR
Standard rated goods and services supplied by a registered taxable person. This is also known as output tax.
| Description | Dr. | Cr. | Tax Code |
| Local credit / cash Sales with GST | Trade Receivables / Bank | | |
| | GST - Output Tax | SR |
| | Sales |
|
ZRL
Supply of zero rated goods and services locally. Example sale of zero rated goods such as fruits, rice, vegetables.
| Description | Dr. | Cr. | Tax Code |
| Local credit Sales - Zero Rated Supplies | Trade Receivables | | ZRL |
| | Sales | |
ZRE
Export of zero rated goods and services.
| Description | Dr. | Cr. | Tax Code |
| Exported Sales | Trade Receivables | | ZRE |
| | Sales | |
Your comments and suggestion, please....
No comments:
Post a Comment