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In our GST setup we have two separate Item GST Groups for purchases with GST. These are CAPITAL, which defaults to G10 on the BAS, and NON-CAPITAL, which defaults to G11 on the BAS. At the moment all of our projects are defaulting to NON-CAPITAL as the Item GST Group whether they're a capital project or an operational expense project. They are both calculating 10% GST, so that is correct, but the majority of our project expenditure is capital and these are not being reported in the correct field on the BAS when reporting to the Tax Office.
Does anyone know how to setup the Item GST Group for a project or project group so that the Item GST Group can default to CAPITAL for our capital projects when creating purchase requisitions/orders and processing vendor invoices? All suggestions are welcome.
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