we have tax requirement for Australia, Not reportable tax is used for overseas supplies
in Tax & Global
Summary:The purchase for the imported goods
- The overseas Supplier has been selected as they are being paid for the imported goods.
- The N-T (Not Reportable) tax code is used because in this example the GST is not payable to the overseas supplier.
- This example shows how to record the Customs charges and GST charged by the customs agent
- The customs agent has been selected as the
- Supplier
- as they are being paid the import costs.
- The double entry for the imported stock item on the last two lines is to account for the GST.
- The first line three lines are for Other customs charges the GST Tax code is selected as it applies to these charges and it can either be GST or GST Free depending on the charge type.
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