Microsoft Dynamics NAV contains some special tables to manage the tasks necessary for settling GST and reporting to the customs and tax authorities.

GST Reporting

You can use tables to calculate the GST due for a period. Microsoft Dynamics NAV creates an entry in the GST Entries window for each posted transaction that involves GST. These entries are used to calculate the GST that must be settled for a given period. Then you can prepare and print the GST statement report.

GST Statement

You use a GST statement to specify the basis for calculating the GST payable to the tax authorities. In the GST Statement window, you define the GST statement based on the accounts in the Chart of Accounts window or based on entries in the GST Entries window. The advantage of using the GST entries option is that you can close these entries by posting the GST Settlement. It is easier to locate GST correction entries in previous accounting periods, where the GST statement has been done, by working with GST entries.

The GST statement is normally defined when you initially set up the company in the program. It is recommended that you set up the statement with the format that is required by the tax authorities. After the statement has been defined, it can be previewed and printed.

For more information on GST statements, see How to: Define GST Statements, How to: Preview GST Statements, and How to: Print GST Statements.

GST Settlement

Periodically, you must remit the net GST to the tax authorities. You can use a batch job as often as you want if you need to settle GST frequently. After you have approved the GST statement, you can run the Calc. and Post GST Settlement batch job to close the open GST entries and transfer purchase and sales GST amounts to the GST settlement account.

For more information on transferring GST amounts, see How to: Transfer GST Amounts to the Settlement Account.

Note
As soon as the GST entries have been posted and their status is closed, they cannot be opened again. However, you can still create GST reports from these closed entries.

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