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Wendy Tee Leap Sing
Understanding Goods and Services Tax (GST) for Manufacturers, Importers and Exporters
A 2-Day Programme |
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| Programme Outline |
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| › Introduction of GST |
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| › Introduction, mechanism and types of GST supplies |
- Consumption tax sales and services tax replacement and widening the scope of taxes
- VAT taxation procedures basis
- The need of change
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| › The imposition of GST mechanism |
- Output tax
- Input tax
- Input tax credit (ITC)
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| › Elements of the scope of GST |
- Supply of goods and service
- Meaning of supply
- Determination of goods and services
- Importation and reverse charge
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| › Meaning of Business |
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| › Taxable person |
- Meaning of persons
- Determination of taxable persons
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| › Types of Supply |
- Standard Rated Supply
- Zero Rated supply
- Exempt Supply
- Out of Scope supply
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| › Concept of Supply |
- Place of supply
- Time of supply
- Value of supply
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| › Mandatory registration |
- Liability to register
- Determination of taxable turnover
- End of liability & deregistration
- Exemption from registration
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| › Voluntary Registration |
- Types of registration
- Offences and penalty
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| › Accounting for GST |
- Charging output tax
- Entitlement of input tax
- Taxable Period
- Accounting Basic
- Bad Debt Provision
- Tax Invoice & Simplified
- Tax Invoice
- Debit note & credit note adjustment
- Record keeping
- GST Returns
- Adjustment for credit note, debit note and bad debt relief
- Understanding 23 tax code
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