Setting up and using SST in ABSS - An interim guide
From 1st September 2018, Sales Tax and Service Tax 2018 (SST) will replace the existing Goods and Services Tax.
Pending formalisation of tax codes (if any) as well as the SST reporting/submission formats by Customs, you will need to start issuing invoices from 1st September.
Use this guide to setup ABSS in the interim. It applies to both ABSS Accounting and ABSS Premier.
To start recording your sales transactions with SST in ABSS, add one or both Sales Tax and Service Tax depending on your business requirements:
Note on Sales Tax Payable account.
If you do not have this account, create a new one. You can use a different account code than the one shown shown here, i.e. 2-3300. The account you create however, must be a liability account, i.e. the account number should start with the "2" digit.
Once you have created the relevant tax codes, you can then use it in the invoices you create.
Using the tax codes
Not subject to SST?
Use the N-T code on your invoices
Paying SST
SST returns must be submitted together with payment bi-monthly. The first submission is 30th November 2018. See SST from 1st Sept 2018 for more details.
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