the gst guide.pmd - The Belize Department of General Sales Tax

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6. Value of zero-rated supplies: if the supplies were zero-rated, then insert the total value of zero rated supplies from the invoice 7. Value of exempt supplies: if the supplies were exempt, then insert the total value of exempt supplies from the invoice 8. Value of standard rated supplies (sales to registered persons): if the supplies were provided to a registered taxpayer then insert the total value of standard rated supplies excluding GST; this is the base for calculating GST 9. GST (sales to registered persons): the amount of GST 10. Value of standard rated supplies (sales to non registered persons): if the supplies were provided to a nonregistered person then insert the total value of standard rated supplies excluding GST; this is the base for calculating GST 11. GST (sales to non registered persons): the amount of GST Completing your GST Return At the end of each calendar month: 1. INSERT (TOTAL OF COLUMN 5 – (COLUMN 6 AND COLUMN 7)) AND REPORT ON LINE 100 OF THE GST RETURN 2. INSERT TOTAL OF COLUMN 6 AND REPORT ON LINE 110 OF THE GST RETURN 3. INSERT TOTAL OF COLUMN 7 AND REPORT ON LINE 120 OF THE GST RETURN 4. INSERT TOTAL OF COLUMN 5 AND REPORT ON LINE 130 OF THE GST RETURN 4. INSERT TOTAL OF COLUMN’S 9 and 11 AND REPORT ON LINE 140 OF THE GST RETURN 5. INSERT TOTAL FROM CREDIT/DEBIT NOTES AND REPORT ON LINE 150 OF THE RETURN 42 The GST Guide
Appendix 2 - Sample format of the Purchase Book “PURCHASE BOOK” TIN: Name: Month: (DD/YYYY) Date Invoice # Supplier name Supplier TIN Total purchase (GST inc) Value of zero rated purchase Value of exempt purchase Value of imports GST Paid on Imports at 10% Price without GST on local purchase GST Paid on local purchase: at 10% (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) Totals Instructions · Each line represents one tax invoice or one import declaration (e.g. if there were 123 purchases during the month, then there would be 123 line entries) · Credit and debit notes can be maintained in a separate table 1. Date: insert date of the transaction 2. Invoice number: insert the specific invoice number of the transaction 3. Supplier name: name of the person who supplied the goods 4. Supplier TIN: Taxpayer Identification Number of the supplier The GST Guide 43
Page 1 and 2: GST 300 The GST Guide
Page 3 and 4: 5.5 Adjustment to Output Tax ......
Page 5 and 6: INTRODUCTION This Guide to the Gene
Page 7 and 8: HOW THE GST WORKS GST charged on sa
Page 9 and 10: Importer At importation the importe
Page 11 and 12: (c) (d) (e) goods of a business tak
Page 13 and 14: 3.4 Notifications of Changes in Reg
Page 15 and 16: CHAPTER 4 CHARGING GST A registered
Page 17 and 18: (b) (c) the date of payment or the
Page 19 and 20: CHAPTER 5 ACCOUNTING FOR GST For a
Page 21 and 22: Input tax is deducted from output t
Page 23 and 24: (1) The words ‘Credit Note’ or
Page 25 and 26: CHAPTER SEVEN ASSESSMENTS 7.1 Asses
Page 27 and 28: CHAPTER EIGHT AMMENDMENT OF AN ASSE
Page 29 and 30: • Cash books and other account bo
Page 31 and 32: (ii) (iii) (iv) (v) TIN and name of
Page 33 and 34: Credit/debit notes should also be m
Page 35 and 36: CHAPTER TEN IMPORTS AND EXPORTS 10.
Page 37 and 38: Obligations of a Registered Person
Page 39: Appendix 1 - Sample format of the S

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