GST TAX CODE UPDATE, ACCOUNTING ENTRIES AND AUDIT ( 1 DAY)
By Mr. Kenneth Tam - 22 June 2018, 9:00 am to 5:00 pm
Kuala Lumpur
(100% Claimable From HRDF/PSMB)
INTRODUCTION

This course aims to provide the latest GST updates, applying the correct GST tax code (exiting and additional ) .The additional tax codes need to be created and may affect the GST-03 reporting . Participant also will learn the accounting entries for GST transactions in order to generate the correct GST-03 reporting . The program also provide a clear insight into the common mistake made in regarding to claiming the input tax. Maintain GST documentation and accounting records as well as converse with filling up GST -03 return forms and be aware the types of GST audit.


BENEFITS:
  • Learn the latest GST rules and Recommended additional tax codes
  • Understand the application of the GST tax code and mapping process
  • Understand the impact of GST on double entries and operations of accounting department and documents to be maintained
  • Understand types of supplies and mechanism of claiming input tax
  • Converse with filing up GST 03 returns and types of GST audit
WHO SHOULD ATTEND:
  • Company Secretaries
  • Staff involved in preparing for GST submission
  • All Accounting Staff engaged in preparing accounting records for GST registered companies
  • Account Executives
  • Business Entrepreneurs
  • IT System Administrators
METHODOLOGY:

Lectures using Power-point presentation, flip charts , practical examples , lecture notes and Q & A session

DURATION

7 Hours, 1 Day.

COURSE OUTLINES :-
  1. MODULE 1 : GST TAX CODE ON ACCOUNTING SOFTWARE
    • Purpose of GST tax code
    • Description and Application of existing GST tax code for supply and acquisition
    • Additional (New) tax code for supply and acquisition
    • Mapping of GST tax codes for supply and purchases with GST-03 Field
    • Population of tax codes to form GST -03 return
    • Furnishing and completion of GST- 03 return
    • GAF file for GST audit purposes
    • Taxable report and record keeping
  2. MODULE 2 : UNDERSTANDING THE LATEST GST AMENDMENT ON BUSINESS TRANSACTION
    • Implication of GST on Imported Services
    • GST treatment to Federal and State Government, Local authority
    • Deposits vs Advances
    • Disbursement vs Reimbursement
    • Stock written off or damaged goods
    • Voucher/token
    • Employee’s Benefit
    • Societies and Similar Organization
  3. MODULE 3 : GST ACCOUNTING TREATMENTS
    • Maintaining GST documentation and types of GST invoicing system
    • Additional GST Accounts in General Ledger
    • Accounting treatment on non-claimable input tax
    • Accounting entries for importation of goods and services
    • Deemed supply
    • Adjustment for bad debt relief and non-payment within 6 month
    • GST treatment on Inter-company transaction
    • GST treatment vs traditional accounting treatment: where the differences exist
  4. MODULE 4 : PREPARATION OF GST 03 TAX RETURN AND UNDERSTANDING GAF REQUIREMENTS
    • Internal controls within GST accounting compliant software
    • Linking tax codes to GST 03 tax return (19 boxes)
    • Preparation and Understanding GST Audit File (GAF) requirement
    • Preparation for your GST Audit: Types of Audit GST, Power of assessment it
Your Trainer

Mr. Kenneth Tam is a trainer cum consultant. He has over 30 years of corporate experience in the field of financial management, financial accounting , tax , business planning and budgeting .He had wide , extensive and hand-on experience in various industries which include oil and gas( upstream and downstream) , manufacturing, trading ,project management and education. From 1980 to 2008 he held various managerial positions in a Global oil and gas group of companies, one of the Fortune 500 companies.

Kenneth Tam is a Fellow member of the Association of Certified Chartered Accountants UK (FCCA), Associate member of the Chartered Institute of Management Accountants UK (ACMA), member of the Charted Global Management Accountant (CGMA), a member of the Malaysian Institute of Accountants (MIA). He also obtained a certificate IV in assessment and workplace training from Australia and approved certified trainer from PSMB.

Course Fee
(Course fee is inclusive of 2 tea breaks, lunch, course material,Certificate of Attendance and 6% GST)
Early Bird for training in KL : ( Book Before 8 June 2018 )
1 person or more ~ RM 995 / person
Standard
1 person ~ RM 1095 / person
2 persons or more ~ RM 995 / person
(Course fee is inclusive of 2 tea breaks, lunch, course material, Certificate of Attendance and 6% GST)
Terms & Conditions:
1. Registration & Fees Policy
Registration is confirmed once registration form is received via fax/email/mail. All Payments/Undertaking Letters/Local Order (LO)/Letter of Approval must be made available and presented prior to the course.
2. Cancellation Policy
Any cancellation must be received in writing within 7 working days prior to the event else full payment will be imposed. Any no-show by registered delegates will be liable for full payment of the program fees.
3. Disclaimer & Program Changes Policy
Scientia Training Sdn Bhd reserves the right to amend or cancel the event due to circumstances beyond its control. We reserved the right to modify the advertised topics or course timing whenever necessary.
Registration:
1. Fax 03-6207 6727
       OR
3. Payment shall be made payable to SCIENTIA TRAINING SDN BHD
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