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#Post#: 21--------------------------------------------------
Missing items from our retail store
By: Mages Date: July 9, 2017, 10:16 pm
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Do we need to account for GST Output for items missing from our
the retail store. Approx retail value RM900.00.
#Post#: 22--------------------------------------------------
Re: Missing items from our retail store
By: Lamlyew Date: July 9, 2017, 11:26 pm
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You have 2 options :
1. Pay for the GST as deemed supply (not a good idea)
2. report to police on missing items and value. Write off and
do not pay for deemed supply.
This was recommended by Kastam during lecture for GST
certification.
#Post#: 25--------------------------------------------------
Re: Missing items from our retail store
By: Mages Date: July 10, 2017, 12:09 am
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Thank you for replying.
When do we need to account for the GST Output? At month end or
after our year end stock take.
#Post#: 26--------------------------------------------------
Re: Missing items from our retail store
By: Lamlyew Date: July 10, 2017, 12:18 am
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Hi Mages
Theoretically, you are supposed to make a police report at the
time you discovered the missing items.
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