Introduction

As we all aware that GST (Goods & Service Tax) will be replacing the old Sales and Service tax regime. This training course provides participants an understanding of GST implementation in that may affect all organizations in Malaysia.

Implementation of GST in Malaysia requires coordination of all business organizations. It is a “cross functional" issue that can affect the entire business structure and hence require input from all key business units.

Course Objectives

Upon completion of this program, the participants should be able to:

• Understand the overview of GST implementation in Malaysia.
• To prepare the organization for the implementation of GST
• To evaluate the impact of GST implementation over the business organization
• To identify major issues related to GST
• Key elements of GST and its mechanism.
• Implications of GST on businesses.
• To identify and review business activities in line with GST.
• To effectively overcome implementation, compliance and enforcement issues.
• Treatment of transitional issues upon implementation of GST

Course Outline

INTRODUCTION

1. Overview
2. GST Model
3. Type of Supplies
4. Scope of GST

REGISTRATION

1. Mandatory
2. Voluntary
3. Types of Registration
4. Responsibility of Registered Person

OUTPUT TAX

1. Tax Invoice
2. Credit Note
3. Debit Note
4. Record Keeping

INPUT TAX

1. Input Tax Credit
2. Blocked Input Tax
3. Apportionment

ACCOUNTING FOR GST

1. Taxable Period
2. Accounting Basis
3. GST Compliance Accounting Software
4. Filing of Return

TRANSITIONAL

1. Act Repeal
2. Special Refund
3. Supply Spanning

PENALTIES

1. Late Registration
2. Incorrect Return