Adjusting BAS for GST claimed from non-registered supplier

lb2448
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lb2448
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Adjusting BAS for GST claimed from non-registered supplier

Our auditor discovered that one of our suppliers is not registered for GST, however I've been claiming GST on their invoices unknowingly. Could you advise how I should adjust the BAS to account for wrongly-claimed GST? 

 

 

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Ultimate Partner ronatbas
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ronatbas
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Re: Adjusting BAS for GST claimed from non-registered supplier

@lb2448

 

Your use of the term auditor implies that you are a Not For Profit organization. Many NFP's have a financial year end of Dec. So my first question is which financial year was being audited as this will affect the affect the treatment in MYOB and how it is reported to the ATO. The second question is how do the auditors want it to be treated? Are you to go back to the previous year and change each bill from GST to GNR, or journal the change from GST to Expense?

To me it is a straight forward issue of revise file and then revise June quarter BAS, which will result in you having to pay more GST.

Ron B
BAS Group
03 95588477

info@basgroup.com.au
Making MYOB work for you
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Re: Adjusting BAS for GST claimed from non-registered supplier

@lb2448 @ronatbas

 

I was at a ATO Small Business Seminar last Thursday and we talked about the importance of using ABN Lookup.

 

Over some 20 years of bookkeeping, I often sit at a clients and look at the supplier Tax Invoices/Invoices as I input into MYOB.

A non GST-registered entity issues a Invoice not a Tax Invoice.

 

I agree with Ron that you should be seeking guidance from the auditor and the best solution is likely to be to amend the April - June 2017 BAS.

 

Duncan

Duncan Smith
Business Advice + Tax
www.businessadviceplustax.com.au
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days
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