Summary
Understanding GST Reports: The video explains that the GST or VAT tax report only applies if GST is relevant to you, based on settings configured in the software.
Input Credits and Liability: Describes GST input credits available for construction-related expenses and the GST liability on generated income, particularly for residential and commercial units.
Customizable Parameters: Users must decide which cost centers and elements are GST-inclusive or exclusive. Calculations are performed net of GST unless specified otherwise.
Professional Advice Recommended: It’s emphasized to seek professional advice for specific GST requirements tailored to individual projects.
Monthly Cash Flow Reports: Summarizes GST liabilities and credits on a monthly basis to provide a clear financial overview.
Insights Based on Numbers
GST Calculation Highlights: The video stresses that all metrics, such as development margin and yields, are calculated net of GST. This ensures transparency in financial reporting.