August 9, 2015
Its normal for any organization to borne tax expense at time of purchase. But the important thing that any organization need to realize is the need to minimize and implement strategic and prudent spending. For example, GST imposes direct Deem and Standard Rated for any purchases and supply. Therefore, to minimize the impact of GST, an organization need to categorized and charged the supply at correct entry. Besides that, the RITTR also plays important role in managing tax. The journal entry then will ensure expense at minimum level. So, any accountant need to specify, charged and categorized the supply and purchases of goods and services at correct time and appropriate assigned.