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GST 100% on imports

SvE
2 Posts
Cover User
New Zealand
SvE
Cover User

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GST 100% on imports

Why is it when you apply the 100% GST type to a transaction only 50% GST is applied and the other 50% disappears into the ether? 

 

I've had this problem some GST returns ago and I can't remember how the support team fixed it. I would have thought MYOB would have fixed this bug in their program by now. This never used to be an issue in the old Cashbook version. 

 

I tried to contact the support helpline to sort this out but I was on hold for so long, nearly an hour, that by the time I got through to someone to try and fix it, the battery on my phone died. When I tried to call back the support line said they were busy and cut me off. This is appalling customer support from MYOB.

3 REPLIES 3
MYOB Moderator Steven_M
28,118 Posts
MYOB Moderator
New Zealand
Steven_M
MYOB Moderator

28118Posts

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Re: GST 100% on imports

Hi @SvE

 

The I or GST on Imported Supplies GST code generally works differently to what clients typically think, mostly I think it is down to your GST settings (inclusive vs exclusive).

 

What the system is designed to do is convert the value back down to a GST exclusive value and take 100% of that. So if you have entered a GST inclusive value it will take that value divide it by 2 before taking 100% of that as GST. For example, if you have entered a $150 GST Inclusive line it will give you $75 for the transactional line and $75 as GST

 

If your transaction line is solely tax i.e 100% of it is tax you would be looking at having a grossed by GST value line to give you the required GST amount. You then have a second line on the transaction affecting the same account to reduce the amount but have a 0% GST on it. For example:

 

Attachment2.PNG

Kind regards,
Steven

MYOB Community Support

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SvE
2 Posts
Cover User
New Zealand
SvE
Cover User

2Posts

0Kudos

0Solutions

Re: GST 100% on imports

The issue with this solution assumes you know the value of the goods that the GST was applied to. With the goods I received, the processing agent only gave the final GST amount due to be paid, and did not give the assessed value of the goods that the GST was applied to. This then means I need to extrapolate the value of the goods from the GST amount, a complication I would prefer to do without.

 

Can MYOB not find a simpler solution? As I stated previously this was never an issue in Cashbook. 

MYOB Moderator Steven_M
28,118 Posts
MYOB Moderator
New Zealand
Steven_M
MYOB Moderator

28118Posts

3318Kudos

4140Solutions

Re: GST 100% on imports

Hi @SvE

 

You would be looking at obtaining the grossed-up value of the GST portion. For example, if you have a value of $150 that should be 100% tax you would be taking that value dividing it up 15 before multiplying it by 10. i.e. (150 / 15) x 100 = 1150.

Kind regards,
Steven

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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