Axsel Management International Sdn Bhd
(PSMB Registered Class A Training Provider - SBL Claimable)
presents
PRACTICAL COMPUTERIZED GST MANAGEMENT AND ACCOUNTING WORKSHOP
HANDS-ON GST SIMULATION COURSE
Date: 26 th & 27 th Nov, 2014
Time 9am - 5.30pm, Venue: Armada Hotel, Petaling Jaya.
Facilitator: Santhanasamy Subbiah,
Certified GST Tax Agent of Ministry of Finance, Malaysia
SBL / HRDF Claimable
Certificate of attendance awarded for those who complete the course
INTRODUCTION:
It is important for you to understand that the GST is not just a taxation subject but a practical accounting driven process that is transaction focused. With that in mind, we have developed this practical hands-on simulation (Omni2uAccount, RMC Certified GST Software) workshop to give you an actual experience of a live GST business environment.
The mechanism of GST may look simple on paper but its impact on businesses can be significant. If companies do not manage GST implementation effectively and efficiently it will not only erode profit margins but also incur severe penalties for non-compliance.
COURSE OBJECTIVES:
At the end of the programme, participants are able to:-
Understand the new 24 GST tax codes mapping for accounting
Prepare a GST- 03 Tax Return Form
Submit the GAF (GST Audit File) for electronic audit
Prepare an organisation towards compliance with Malaysian GST implementation
Evaluate the compliance level of an organisation’s existing computerized accounting system for GST
Identify and record documents that are eligible for Input Tax Claim
Prepare invoices and other supply documents that carry relevant GST tax codes
Understand and perform hands-on exercises for special case GST accounting scenarios such as Foreign Currency Gain & Loss, Imported Goods via an Agent, Imported services, GST Adjustments for taxable trade deposits received and bad debts relief and recovery under the 6-months rule, Capital Goods Adjustment for mixed supplier not qualified under the De Minimis rules
Hands-on calculation of IRR (Input Tax Recoverable Ratio) for TX-RE residue input tax under the apportionment rules for mixed suppliers.
WHO SHOULD ATTEND
CFO, Accountants and Key Finance Personnel Managers, Executives, Officers, of Accounts, Finance, Administration, IT & Human Resource Department
COURSE OUTLINE
How does GST work?
GST scope
Supply
Business
Taxable person
In Malaysia
Input Tax
What is input tax?
Mechanism to claim input tax
Allowable input tax
Criteria for claiming input tax
Non allowable input tax (Blocked input tax)
Apportionment of input tax
De Minimis Limit
Refund of input tax
Repayment of input tax
Input tax claim on specific cases
Accounting for GST, Adjustment and Partial Exemption
Adjustment to input tax and output tax
Partial Exemption
De Minimis Rule
Longer period adjustment / Annual Adjustment
Capital Goods Adjustment
GST Return
Tax invoice
Tax invoice for Importation of Goods and Services
Production of Invoice by Computer
Invoice for Flat rate Scheme (FRS)
Invoice for Group companies
Credit Note and Debit Note
Record keeping
Sec 36 – Duty to keep record
By who and why?
Record keeping by non taxable person
Failure to keep records
Method of preserving records
Record on GST Summary Sheet
Regarding Bad Debts Relief Claim
What is Accounting basis for GST?
What is taxable Period?
Manner of Return Submission
Deemed GST Return Furnish
Tax Declaration
When Submit Return and Payment of Tax
Setting up GST Master Data
General Ledger
Tax Module
Accounts Payables
Accounts Receivables
GST transaction posting
Entering transactions affected by GST
Assigning Tax Codes
Extracting reports for GST
Accounting
Tax
Internal and External Audit
Generating the GST Audit File
Data Mining using Microsoft Excel
Data Required for GST Filing (GST-03)
METHODOLOGY
Participant will attend two days of lectures and interaction with the facilitator.
FACILITATOR – COURSE LEADER
Santhanasamy Subbiah has more than 30 years of experience in corporate world on accounting and finance practices. His experiences in various industries include that of Banking, Manufacturing, Education, Insurance, Security, Plantation, Shipping, Shared Services and Freight Forwarding. He was also with the Ministry of Works engaged in special projects funded by the World Bank.
Besides being in the corporate world he has lectured MBA programs for the following Universities:- Open University Malaysia, University of New Castle Australia, Herriot Watt University UK, Asia Pacific International University and was a Dean for the School of Accounting and Finance with a local University.
As a self-starter with his vast experience in numerous industries he is today a trainer and a principal consultant on GST for numerous of companies. He is no novice to GST. He has worked closely with Price WaterHouse Coopers on matters pertaining to GST since 2005 and contributed valuable inputs during the meeting with Ministry of Finance on matters pertaining to the implementation of GST in Malaysia.
His specializes on the Understanding, Implementation and Hands-On training programs on Goods and Services Tax for numerous industries such as manufacturing, oil and gas, construction, logistic, retail, airlines, IPTA and many others. He is a GST trainer of Malaysian Institute of Accountants, Malaysian Institute of Insurance and Malaysia Institute of Corporate Governance.
Santhanasamy holds an MBA majoring in Finance from University Putra Malaysia. He is a member of the Chartered Accountant of Malaysia, Chartered Management Accountant of UK, and an Associate Member of the Malaysian Institute of Management. He is a Certified Trainer of HRDF. He is a certified GST Tax Agent of Ministry of Finance
Course Fees & Registration
You can register by completing the enclosed form and faxing it to 03-7781 3333
RM 1,800.00 per person - SBL Claimable (include morning & afternoon tea break, lunch, notes and certificate of attendance)
