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SST Taxes and Charges Template

Before creating the new Taxes and Charges template for SST, Item Tax would be created in the Item Master Data. 

(A) Update Item Tax for Items

There are several approach when comes to item taxes:- 

      a) New Finished Goods Item

      If a new Finished Goods item is created, set the new Item tax data with the appropriate sales tax account and tax               tax rate in the Item Master when the sales tax is applicable.

                   GASB---SST-.png

     b) Existing Finished Goods Item

         For E.g. If an existing Finished Goods item consist of item tax like Output Tax SR which no longer applicable. Please           delete the item tax data and replace it with new taxes or charges with the latest tax rate (refer screenshot in                         (a) for the replacement of new Tax. 

                     FG---Item-tax.png

    c) For the new and existing Traded Goods or other items, please remove all tax data in the Item Master because these            items are non-taxable.

               Item-Taxes---delete.png

B) Set up New Taxes and Charges Template

1. For Sales Taxes -> go to Sales Taxes and Charges template -> select New 

           Sales-Taxes-and-Charges-Template.png

2. Allocate the Sales Taxes title, fill up the type listed below with the relevant account head and rate to be assigned. For       example from second screenshot below, Standard Rated Sales, SST of 10% is allocated. After the allocation, click             save. 

                   new-sales-taxes.png

                  sales-tax-10-percent.png

C)Disable all other Purchase and Sales Taxes and Charges Templates

1. If there are existing Sales or Purchase Taxes and Charges Templates that are no longer valid, you could go the specific taxes or charges under purchase or sales taxes and charges templates, select disabled and click save. (refer to below screenshot).

2. For eg. Bad debt recovery is no longer part of the charges, once it is disabled, it will no longer be applicable in Sales or Purchase Invoices Taxes and Charges section. 

Diable-taxes-and-charges.png

 


3. Clean up existing Tax Rules and create a New Tax Rule to set the new SST template as the default template in Sales Orders (let me know if you need help on this)
4. Update the SO and DN print formats (let me know when you want to start on this, i'll show you how)

 

 

 

 

 

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