GST Rate Change

GST Rate Change

On 1st Jan 2024 the GST rate will be changed.
OCi will push out the new set of tax code to systems with active maintenance plans.
Existing Tax codes on system will still remain.

Actions on User side:
Users will need to verify that the chart of account selected for the new tax code are correct.
The system will choose the chart of account based on previous tax code selection
however since the Tax registration module allows user to make changes, the system selected account may not be accurate (this can be due to user creating and using their own tax code)
If you have not made changes to the default chart of accounts you should still check the tax codes.

Special note for customized document layout.
There is a very small group of users that had requested to make the tax percent permanent on the document layout. 
these users will need to contact Customer Service to get a quote on the document layout changes. if you are not sure a method to test will be shown below.
if you are using our standard layouts there will not be an issue.

Verifying the chart of account for a tax code.
go Setup -> Accounts -> Tax
open the tax registration module.

the new tax codes will be denoted with an eight in the name.
Eg



our default Chart of accounts use the following as default tax accounts.
Input Tax Account CAS9000
Output Tax Account CLI9000
if you have changed your chart of accounts your default tax account can be different from our chart of accounts.

Edit the 8% tax code.
Review the account for the selected tax code.
Note when editing the tax code you will receive a warning message.
the warning message is ensure users take special care when changing the chart of accounts.



If the chart of account is incorrect, select the correct chart of account.


Checking document layout.
step 1.
create a new document.
you can edit this document later to reuse the running number or you can void and re-use the document.
this check works for both AR and AP modules.

step 2.
select a BP.
save the document

with no item selected the document value should be zero.

this will not have any accounting impact. 

if your document layout has the changeable tax percent you should see that the tax percent is empty.
this will indicate that the layout is ok.



if you see tax percentage, this means the tax percent is permanent (hardcoded) and you'll need to get a new customized document 
or you can use one of the standard layouts.




    • Related Articles

    • Changes to GST Post

      To make changes inside a GST Locked period, you will have to enable the following setting: Once enabled, anyone may add/edit transactions within GST Locked period. You may consider setting Authorisation Password. Users will be prompted to enter a ...
    • GST Registered Company Setup

      Here are the steps users must do in SAM once GST-registered: Ensure GST Registered checkbox is ticked, and update the fields in this section Open "Document Setting Import" module and click on "Get Document". Once the list is populated, click ...
    • GST Optimizations

      In order to improve GST performance we have made changes to the GST workflow. Key Changes Once locked, the GST period cannot be unlocked.There are no more commit/uncommit buttons. Transactions that are created with a post date in a GST locked period, ...
    • GST Rounding option

      By default, the system calculates the GST Amount of each line item before summing up each line item's GST Amount to form the Document total GST Amount. (The figure displayed in "7% GST" field of the document) If you would like to change how a ...
    • GST available dates.

      For SAM system, We have improved on the GST portion of the system. The date range available for report generation depends on the last lock period. base on the last lock period you can generate reports 5 years into the past and 1 year into the future. ...