Tax Code : Import Purchases IM

All goods imported into Singapore are subjected to duties and/or GST. The purchase value of the imported goods must be reported as part of the taxable purchases, with indication of the purchase as import.

A Fast code, [IM] is created below and linked to the chart of accounts D-G002IM-1

You can Pre-set your supplier account with IM tax code

How to record an import purchases?

Sample Report - GST report showing Import purchases supplier

http://realtimme.cloudapp.net/basic/index.html?fast_tax_import_purchases.htm