GST on import - NZ

Question

HiThe way the GST on imported goods works in MYOB seems strange.&nbsp; Per the attachment, we pay GST on imported goods of $5992.65. Normally this amount would be allocated to Box 13 of the GST Return (Credit adjustments from your calculation sheet) of $5992.65.&nbsp; No amount in the MYOB GST return appears and the bank transaction shows a GST amount of 50% of the $5992.65. Surely if I set up the GST code as 100%, the amount of GST should be 100% and should appear in the GST return in Box 13. In pevious message posts, the GST is worked around by grossing the amounts up but as this is GST on imports, it shoudn't be grossed up.&nbsp; Is this an MYOB software issue that needs to be fixed?&nbsp; ThanksNick&nbsp;&nbsp;

genreve_s · Answer

Hi nickclev,&nbsp;
We understand how crucial it is for your taxes to be accurately recorded in your file.
&nbsp;
Thank you for your post and a warm welcome to our Community Forum. We're sorry to hear about the challenges you're facing in adding the GST for imported items. In MYOB Business, the GST return for imported items is managed a bit differently. Typically, you need to create one bill to document the overseas purchase and another bill to account for the import costs. We suggest going through the article titled 'Recording Overseas Purchases and Import Costs'. This will offer a comprehensive step-by-step guide to ensure the taxes are included in the GST return.
&nbsp;
Let us know if you require any further assistance with this.
Thanks,Genreve
&nbsp;

dorothycorkill · Answer

Hi NickDid you resolve this problem ?We are facing the same issue at the moment &amp; the MYOB work around is very confusing .&nbsp;Regards&nbsp;Brown Pennell (2019) Limited

jenniek · Answer

Hi DorothyCorkill&nbsp; and nickclev&nbsp;Is this in the web based version. In Accountright we code direct to the linked account for Box 13 with NO GST (N-T) on a different line. We stopped using the IMP code years ago. It never seemed to work. I haven't tried this in the web based version though - assume the same would work??

dorothycorkill · Answer

Hi JenniekOur client is in MYOB Business Connected Ledger .We have some clients in Accountright &amp; the Import GST works fine in that format . The problem we found is in the other MYOB product .&nbsp;Will be interesting to see which product nickclev is having issues with .&nbsp;

jenniek · Answer

Hi DorothyCorkill&nbsp;Good to know - I haven't tried it with MYOB Business products - but I'll test it in my demo and see what happens

Forum Discussion

GST on import - NZ

Looking for something else?

Related content

GOI GSt on Imports not showing on GSt Return

GST report

GST

GST Period

Importing issue

GST on imported service?

GST paid to Custom on imported goods

Importing Invoices