2.0 GST Treatment on BCRS Deposit

2.0 GST Treatment on BCRS Deposit

GST Treatment on BCRS Deposit

The BCRS deposit will be collected by businesses such as GST-registered producers and retailers when bottled or canned drinks are sold, by adding the amount on top of the price of the beverage.  For GST purposes, the following treatment will apply: 
  1. The BCRS deposit will not be subject to GST as it is a refundable deposit paid over and above the price for the beverage; and 
  1. The sale of the beverage product will continue to be subject to GST.  This is the same GST treatment as applied today.

Sales Invoice



Alert
STEPS:
  1. Click SALES
  2. Click INVOICE
  3. Click NEW
  4. Select Customer
  5. Create first line as per normal process
  6. Create second line as per normal process but enter:
    1. DESCRIPTION as "BCRS DEPOSIT  - NOT SUBJECT TO GST"
    2. TAX - leave blank
  7. Click ADD
    - To save the document

Supplier Invoice




Alert
STEPS:
  1. Click PURCHASES
  2. Click SUPPLIER INVOICE
  3. Click NEW
  4. Create first line as per normal process
  5. Create second line as per normal process but enter:
    1. DESCRIPTION as "BCRS DEPOSIT  - NOT SUBJECT TO GST"
    2. TAX - leave blank
  6. Click ADD
    - To save the document

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