{"id":6028,"date":"2021-07-12T05:52:28","date_gmt":"2021-07-12T05:52:28","guid":{"rendered":"https:\/\/moiboo.com\/supportdocs\/sample-user-guide\/getting-started\/exempt-invoice\/"},"modified":"2021-07-12T06:06:56","modified_gmt":"2021-07-12T06:06:56","slug":"exempt-invoice","status":"publish","type":"docs","link":"https:\/\/moiboo.com\/support\/docs\/sample-user-guide\/getting-started\/exempt-invoice\/","title":{"rendered":"Exempt Invoice"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Exempt Invoice<\/h2>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Exempt Invoice\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/2lv2VPCD5to?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Exempt Invoice\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/2lv2VPCD5to?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Exempt Invoice<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A GST-registered supplier can zero-rate the supply of goods and services if the supply involves the export of goods out of Singapore or if the services fall within the description of \u201cinternational services\u201d under Section 21(3) of the GST Act.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Common examples of zero-rated supplies include the export of goods, sale of air tickets and international freight services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The value of the zero-rated supply must be reported in the GST return<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Different Types Of Exempt Supply<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>There are two types of exempt supply<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Regulation 33 Exempt supplies<\/li><li>Non-regulation 33 Exempt Supplies<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">I Will Briefly Explain What This Means:<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Regulations 33 Exempt supplies refers to specific categories of supplies specifically listed in Regulation 33 of the GST Act. Common examples include:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Interest income received from deposit of money in a financial institution in Singapore;<\/li><li>Absolute value of net realised exchange gain or loss;<\/li><li>Interest charged to customers that purchase goods or services on credit;<\/li><li>Interest income received from bonds<\/li><\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">No GST is chargeable on exempt supplies as they are specifically exempted from GST.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Non- Regulation 33 Exempt supplies refers to exempt supplies which are not specifically listed. Common examples include the sale and lease of residential properties, and the supply of financial services as prescribed in the Fourth Schedule of the GST Act.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Let Us Now See How To Raise A Exempt Scheme Invoice Using Reach Accounting Software<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"795\" height=\"390\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-108.png\" alt=\"\" class=\"wp-image-6030\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-108.png 795w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-108-300x147.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-108-768x377.png 768w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">1.Click on Income in the top tab menu and choose Invoice<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"796\" height=\"457\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-109.png\" alt=\"\" class=\"wp-image-6031\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-109.png 796w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-109-300x172.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-109-768x441.png 768w\" sizes=\"(max-width: 796px) 100vw, 796px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">2.Click on Add Invoice<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"795\" height=\"418\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-110.png\" alt=\"\" class=\"wp-image-6033\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-110.png 795w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-110-300x158.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-110-768x404.png 768w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"795\" height=\"418\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-110.png\" alt=\"\" class=\"wp-image-6032\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-110.png 795w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-110-300x158.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-110-768x404.png 768w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"857\" height=\"480\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-111.png\" alt=\"\" class=\"wp-image-6034\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-111.png 857w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-111-300x168.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-111-768x430.png 768w\" sizes=\"(max-width: 857px) 100vw, 857px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">3.The first tab will prompt you to choose the type of Invoice you choose to raise; Choose Exempt supply Invoice. Choose the appropriate tax Invoice template<br>4.Now choose whether this is a Regulation or a Non Regulation Supply<br>5.The Invoice voucher entry is divided into three sections:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The first section allows you to fill the basic Invoice details like date, terms, currency and due date<\/li><li>The second section allows you to choose the products, description, quantity and value<\/li><li>The final section allows you to enter dispatch details and set reminders for payment followup<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">6.Fill the details appropriately<br>7.Once done, you have to option to save the Invoice<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"796\" height=\"397\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-112.png\" alt=\"\" class=\"wp-image-6035\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-112.png 796w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-112-300x150.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-112-768x383.png 768w\" sizes=\"(max-width: 796px) 100vw, 796px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"823\" height=\"637\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-113.png\" alt=\"\" class=\"wp-image-6036\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-113.png 823w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-113-300x232.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-113-768x594.png 768w\" sizes=\"(max-width: 823px) 100vw, 823px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">8.On saving the Invoice Reach Software will automatically prepare the Exempt supply Invoice<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"798\" height=\"301\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-114.png\" alt=\"\" class=\"wp-image-6037\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-114.png 798w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-114-300x113.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-114-768x290.png 768w\" sizes=\"(max-width: 798px) 100vw, 798px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">9.The daybook, ledgers, trial balances and financial statements are automatically posted and prepared<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"798\" height=\"662\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-115.png\" alt=\"\" class=\"wp-image-6038\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-115.png 798w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-115-300x249.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-115-768x637.png 768w\" sizes=\"(max-width: 798px) 100vw, 798px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"blob:https:\/\/moiboo.com\/7a6c07e4-afbf-4394-b95f-26d002cab0dd\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"214\" src=\"https:\/\/moiboo.com\/supportwp-content\/uploads\/2021\/07\/image-117.png\" alt=\"\" class=\"wp-image-6040\" srcset=\"https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-117.png 800w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-117-300x80.png 300w, https:\/\/moiboo.com\/support\/wp-content\/uploads\/2021\/07\/image-117-768x205.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">10.It will also auto-populate the relevant tax codes in the GST forms so you will not have to prepare them manually later.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exempt Invoice Exempt Invoice A GST-registered supplier can zero-rate the supply of goods and services if the supply involves the export of goods out of Singapore or if the services fall within the description of \u201cinternational services\u201d under Section 21(3) of the GST Act. Common examples of zero-rated supplies include the export of goods, sale [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":2485,"menu_order":25,"comment_status":"open","ping_status":"closed","template":"","doc_tag":[],"class_list":["post-6028","docs","type-docs","status-publish","hentry","no-post-thumbnail"],"acf":[],"_links":{"self":[{"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs\/6028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs"}],"about":[{"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/types\/docs"}],"author":[{"embeddable":true,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/comments?post=6028"}],"version-history":[{"count":2,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs\/6028\/revisions"}],"predecessor-version":[{"id":6043,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs\/6028\/revisions\/6043"}],"up":[{"embeddable":true,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/docs\/2485"}],"wp:attachment":[{"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/media?parent=6028"}],"wp:term":[{"taxonomy":"doc_tag","embeddable":true,"href":"https:\/\/moiboo.com\/support\/wp-json\/wp\/v2\/doc_tag?post=6028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}