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#Post#: 74--------------------------------------------------
Tax Code TX-CG
By: Samy Date: July 12, 2017, 11:51 pm
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I joined this Company in Jun 2017. I did an audit on the GAF for
2016 and I realized there was no TX-CG but the Company purchased
Fixed Assets in 2016. What should the Company do?
#Post#: 76--------------------------------------------------
Re: Tax Code TX-CG
By: NSelvam Date: July 13, 2017, 4:00 am
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Tax code: TX-CG
This tax code refer to purchase with GST incurred at 6% for all
capital goods acquired that is claimable regardless the value of
the goods. For example, land and buildings, equipment,
machinery, vehicles, or others capital goods which the company
claims for input tax and capitalize the acquired capital goods
as their assets. The GST registrant who claiming the capital
goods has to declare the value of this claimed capital goods
under field 6a & 6b, and field 16:Total Value of capital goods
acquired (excluding GST) of GST-03 return.
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As per the GST Software Guide, Field 16 must be updated for all
capital purchases
What this pax told me during the GAF Training:
They notified KASTAM that they made a genuine mistake for Field
16, ask for permission to log on to TAP and amend Field 16 from
Jan to Dec 2016.
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