This article relates to the Goods & Services Tax (GST) which was introduced in April 2015, but was subsequently replaced with the Sales & Service Tax in September 2018.
Since the introduction of GST in April 2015, there have been changes in the way we record and report GST. From changes in tax codes, some added, some removed, to changes in the GST-03 as well as GST Audit File reporting formats.
The recent changes that came into effect in 2018 include the following 4 compliance updates as follows:
- GST Tax Code Changes
- GST 3 Return Reports
- GST 3 TAP
- GST Audit File (GAF)
The following announcement can be found on the Customs website:
GOODS AND SERVICES TAX (AMENDMENT) REGULATIONS 2017 – AMENDMENT OF FIFTH SCHEDULE IN RELATION TO FORM GST-03
Please be informed that, with effect from 1 January 2018, details in item 15 of GST-03 return will be amended from “Total Value of GST Suspended under Item 14” to “Total Value of Other Supplies”.
Other supplies in this item refer to ALL SUPPLIES OTHER THAN SUPPLIES DECLARED IN ITEM 5, 10, 11, 12, 13, 14, 16, 17, 18 in the GST-03 return.
Other supplies also include disregarded supplies and out of scope supplies. Details of other supplies will be updated in the Accounting Software Guide.