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[Tax] Purchase Tax which is Unclaimable
Hi Gurus!
In Malaysia, Purchase Tax SST is unclaimable (unlike VAT), thus when creating Bill in NetSuite, the SST amount should post and include under the COGS or Inventory account (it should be include under item unit cost), it should not post to tax liability account.
I have tried to did some testing but could not find a way to use NetSuite standard Tax function to set up the Purchase Tax following above mentioned criteria.
We know that there is an alternative way such as set up the SST Purchase Tax as Landed Cost, so that the tax amount is posted to Inventory Account and included under the COGS of the item. But we wanted to check whether there's a proper way to setting up the Purchase Tax Code with NetSuite standard Tax function too.