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Using the first three months Profit and Loss spreadsheet provided classify each item according to your best judgement of what the GST treatment is likely
Using the first three months Profit and Loss spreadsheet provided classify each item according to your best judgement of what the GST treatment is likely to be. The GST treatment options to choose from are below.
a)GST
b)GST free purchases
c)Capital purchase (GST Free)
d)Capital purchase (Input Taxed)
e)Capital purchase (Taxable)
f)Input taxed supplies
g)Non GST
h)Exports
i)Purchases for private use
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