GST: How to calculate GST for margin scheme?
Question: How to calculate GST for margin scheme?
For Margin Scheme, the GST is calculated based on margin earned only.
GST is calculated as below:
Selling price (RM10,000)
Taxable amount = Selling price – cost = RM 10,000 – RM 5,000 = RM 5,000
RM 5,000 is inclusive of GST, the GST will be
RM5,000 X 6/106 = 283.02
By: Mei 171110, KM 171114, P171120
|AutoCount Accounting 2.0
|AutoCount Accounting 1.8 / 1.9
|AutoCount On The Go
|AutoCount Accounting Plug-In Documentations