GST Expense & Income (Urgent)

invest2k

Income Tax Act 1967 VS GST Act 2014

(1) Is Blocked Input Tax deductible against income tax (if the expense is for business / employee use but blocked under GST)?

Dr. Normal expense / fixed asset (Tax code : BL)
Dr. GST expense
Cr. Creditor

(2) Is GST expense of non GST-registered person (trader absorbs the GST expense as business cost) deductible against income tax ?

Dr. Expenses / fixed asset
Dr. GST expense
Cr. Creditor

(3) Is GST expense caused by over deduction (annual adjustment / capital goods adjustment) deductible against income tax?

Dr. GST expense
Cr. Output tax

(4) Is other income caused by short claimed (annual adjustment / capital goods adjustment) taxable under income tax?

Dr. Input tax
Cr. Other income - GST short claimed

syj

这问题问得好，我也想知道

invest2k

顶贴。。。

vernonshe

Income tax still based on the principle of .. wholly and exclusively the production income. .
1. Car maintenance can deduct if no private portion
2. Can deduct if for biz
3. Adjustment not relevant to income tax. . Should add back
4. Same as 3

invest2k

vernonshe 发表于 9-4-2015 11:30 PM
Income tax still based on the principle of .. wholly and exclusively the production income. .
1. Ca ...

CTIM and LHDN still discuss the above issues.

invest2k

顶贴。。。。。。

hbtan81

invest2k 发表于 13-4-2015 07:43 PM
顶贴。。。。。。

报账 income tax 时 是用 purchases +6% 的 amount 还是 purchases
total sales 是 sales + 6% 还是 sales ?

invest2k

hbtan81 发表于 14-4-2015 04:46 PM
报账 income tax 时 是用 purchases +6% 的 amount 还是 purchases
total sales 是 sales + 6% 还是 sa ...

Value (Excluding GST) for both income and expense.

amylim70

请问。。gst expenses 在 audit account（tax computation） 的时候是不是会add back 然后 tax 的，像Secretarial fee？？？

ihateaccountax

顶贴。。。