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gst software for excise and retailer


GST applies to goods and services supplied in Australia and to goods imported into Australia. Some goods, such as certain foods; and some services, such as certain health, education, and financial fees, are not subject to GST.GST is levied at 10 percent of the value of the supply at each stage of the supply as a value-added tax. You add GST to the price of the goods or services that you sell so that the price that the consumer pays includes the tax. The supplier is liable for the tax and is required to pay GST at the earlier of the time of invoice or payment. Suppliers remit the amount of the tax due minus any credits for GST already paid to the Commissioner of Taxation.

Generally, you can select whether to remit GST monthly or quarterly; in some situations, the government might require you to pay monthly. You must file GST returns for each tax period (monthly or quarterly) by the 21st day of the month following the end of the period. The return must display the net amount of GST, which is the GST charged on sales, and outputs reduced by the GST input credits (matched to tax invoices) and corrected for adjustments (matched to adjustment notes).To obtain the benefit of a GST credit for purchases, you need to have supporting documentation in the form of a tax invoice. You can request tax invoices from the suppliers; you must give invoices to the customers on request.When the use of an input-taxed supply changes or when the price of a sale or purchase changes, you need to adjust the GST that you charged or the GST credits that you claimed. These adjustments must be documented by an adjustment note. Either the customer or the supplier can issue an adjustment note.