Understanding Malaysian GST – Increase Productivity and Saving
Training Date :
GST has been repeal. If you would like to learn about the new tax that replaced GST, please CLICk HERE
INTRODUCTION
Goods & Service Tax (GST) has been implemented in Malaysia replacing the Sales and Service Tax (SST) effective 1st April 2015. This training provides participants not only the knowledge about Malaysian GST but also include the updates on DG decisions and changes to the ACT. Royal Malaysian Customs Department (RMCD) will start to carry out GST audit and this training will help participants to be more prepared for the audit and thus reducing the cost of penalties. Having thorough knowledge of GST will also help every one in the organisation to increase productivity.
LEARNING OUTCOMES
By the end of the “UNDERSTANDING MALAYSIAN GST – INCREASE PRODUCTIVITY AND SAVING” training, participants will be able to :
o Understand the key elements of GST and its mechanism
o Analyse and understand the implications of GST on yourselves and your business
o Identity and review business activities in line with GST
o How to effectively minimize the compliance cost, and avoid penalties on common mistakes
o Get the latest updates on Malaysian GST
o Equip with the necessary skills and knowledge of the Malaysian GST to be applied into their work place
WHO SHOULD ATTEND
- Finance Managers, Accountants, Accounts Executives, Preparers of GST Accounts and Returns
- General Managers, CFOs
- Business Owners, Directors
- Manufacturers & Traders
- Purchasing / Procurement Managers
- Operations Managers, Sales and Marketing Managers
- Logistic Managers, Warehouse Managers
- HR Managers, Office Managers
- IT Personnel
- Management / Business Consultants
- Anyone who wants to understand GST better
METHODOLODY
This “Understanding of Malaysian GST – Increase Productivity and Saving“ training’s methodology is a combination of expert input, interactive practical exercises, group discussions, presentations and video.
COURSE CONTENT
DAY 1
1. Introduction
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- Why GST and Rational for Implementing GST
- Concept of GST – Input tax and output tax mechanism
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2. Registration for GST
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- Taxable person and threshold determinations
- Mandatory, Voluntarily registration
- Transfer of Going Concern
- Registration for Individuals, sole proprietor and LLP
- Group and Branch Registration
- Timing of Registrations
- Liability to Register
- Registration Cancellation
- Responsibilities of a Registered Person
- Deregistration
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3. Scope of GST
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- Type of supply: standard & zero rated supplies
- Non-Taxable supply: exempt supplies, disregarded supplies, out of scope
- Deem supplies
- Mixed and Composite Supply
- Basic Tax Point, Actual Tax Point and the 21 days invoicing rule
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4. Input Tax Credit (ITC)
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- Allowable input tax to claim- Attribute & Apportionment concept
- Blocked input tax
- Deminis Principle for Residual Input Tax Credit Claims
- Input Tax for Incidental Exempt Supplies
- Input Tax repayment for non-payment made to suppliers
- Input Tax Adjustment
- Bad debt relief
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5. Special Schemes
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- Warehousing Scheme (WS)
- Approved Trader Scheme (ATS)
- Approved Toll Manufacturer Scheme (ATMS)
- Tourist Refund Scheme (TRS)
- Flat Rate Scheme (FRS)
- Approved Jeweller Scheme (AJS)
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Day 2
6. GST Impacts on Your Business
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- Finance & Admin
- Business Strategy and Operation
- Legal / Governance / Policies / Accountability
- Information Technology Systems
- Sales & Marketing
- Customers
- Suppliers / Procurement
- Human Resource / Human Capital
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7. Accounting for GST
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- Issuance of tax invoice
- Content of a full tax invoices
- Simplified tax invoice
- Deemed tax invoices – Self Bill invoices
- Tax invoice for mixed supplies
- Foreign Currency invoices
- Credit Note and Debit Note, Dealing with Bad Debts and Adjustments
- Tax Codes and Accounting Systems
- Record Keeping
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8. Filing GST Returns
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- Requirements of GST Returns GST- 03
- The GAF file (GST Audit File)
- GST Audits
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9. Latest Development
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- DG Decision
- Offences and Penalties
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FACILITATOR
Mr. Tan Chee Wan
PSMB Train-The-Trainer certificate no: TTT/6518
Qualifications:
Fellows Member of Chartered Management Accountant – FCMA (UK)
Chartered Accountant (Malaysia) – CA (M’sia)
Chartered Global Management Accountant – CGMA
Competent Toastmaster – CTM
Click Here to download Tan Chee Wan profile in PDF format
Tan Chee Wan is a Senior Member (FCMA) of the Chartered Institute of Management Accountants, CIMA and a member of Malaysian Institute of Accountants, MIA since 1992. He has been a Council Member of the CIMA Malaysia Divisional Council since 1998 until the Divisional Council dissolved in May 2012. Chee Wan is also a duly certified Competent Toastmaster of Toastmaster International.
All in, Chee Wan has more than twenty-five years of hands-on experience in different areas of management and functions in diverse industries such as in auditing, printing, construction, manufacturing, consultancy, engineering and trading. Other than the Finance, Accounting, Auditing, Taxation, Corporate Finance and Credit Control, some of the other functions include: general management, business development, business strategic planning, performance improvement, quality assurance, human resource management, information technology and management, budgeting and strategic cost management.
Chee Wan has attended the Train The Trainer Training conducted by PMSB and is a certified trainer under PMSB (Certificate No. TTT/6518). Chee Wan is also a Certified GST Consultant / Trainer having attended the Royal Malaysia Custom GST training and passed its examination.
Contact us at
Tel : +603 55231819
Fax : +603 5523 2827
Email : sales@wanfahprosper.com
DATA PROTECTION
Personal Data is gathered in accordance with the Personal Data Protection Act 2010 (Act 709)
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