GST LATEST – UPDATE ON NEW TAX CODES AND HANDLING KASTAMS AUDITS (2 DAYS)
By Mr. Gobi Sinnarajoo - 8 & 9 November 2017, 9:00 am to 5:00 pm
Kuala Lumpur
(100% Claimable From HRDF/PSMB)
PROGRAM OBJECTIVE

It has been 2 years since GST was implemented and Kastams are now starting to conduct GST audits. After attending this 2 Day program participants will be able to prepare and face these audits with confidence.
Over the last 2 years here has been various implementation issues, many unanswered questions and uncertainty faced by both businesses and individuals alike when calculating and lodging their GST returns. Most of the implementation issues have been resolved but not the GST accounting transactional matters are still subject to errors and in accuracy.

Kastams Malaysia and various training institutions have conducted wide ranging GST awareness programs as well as demonstrating the impact on the businesses. Despite that there are still many companies and business owners who still uncertain whether they have lodged the right GST numbers.

The 2 Day program will cover to ensure there are sufficient processes to comply with Kastams Audit and Review. Unlike external Financial Audit requirements where it is performed annually, GST reports are submitted monthly or quarterly, therefore we need a process which detects GST non- compliance throughout the year.

PROGRAM OUTCOMES
  • Refresher on GST principles by sharing experiences, case studies and class test.
  • Getting updated on the latest October 2016 budget GST updates and the latest additional Tax Codes introduced by Kastams.
  • Learning the techniques and reports to maximise automation of GST returns in your accounting software.
  • Explanation of the GAF Audit file required by Kastams and how to generate and communicate with Kastams.
  • Full understanding of the GST rules on Entertainment, Gifts, Staff Benefits, Bad Debt Relief.
  • Implementing self-audit GST processes, reports and reconciliations to ensure accurate GST and avoid Kastams audits.
  • Getting updated on the newly released ruling by Lembaga Hasil Dalam Negara (LHDN) on the Income Tax deductibility benefits with respect to GST incurred.
PROGRAM OUTLINE :-
  1. REFRESHER ON GST PRINCIPLES
    • Short refresher on the concept of GST, how the Output Tax and Input Tax mechanism works.
    • Revisiting of the basic 3 GST categories what is the impact on your GST Input claimability if you are having Zero or Exempt sales.
    • Sharing of GST calculation and lodgement around the table on issues faced by everyone.
    • Review of Kastams audits in the last 12 months (case studies).
    • Class test to re-inforce the GST understanding so far.
  2. REVIEW OF THE OCTOBER 2016 GST UPDATES INCLUDING NEW TAX CODES
    • GST changes announcements in summary
    • The new Tax Code changes explained and making the changes in your Accounting Software.
      • TX – N
      • ES Codes etc…
      • Special Scheme Codes etc….
    • Accounting entries to cover the new Tax Codes.
    • Changes to the GST lodgement and penalty rules.
  3. CREATIVE USE OF YOUR ACCOUNTING SOFTWARE TO MAXIMISE AUTOMATION OF YOUR GST
    • The 30+ Tax Codes: brief overview of the important codes and how it is mapped into the GST 03 Form.
    • Identifying which of the new Tax Codes is relevant to you and which can be ignored.
    • Tips on restructuring your Chart Of Accounts to ensure accurate GST.
    • Automating the GST 03 Form completion to ensure 100% GST accuracy.
    • Fixing GST errors; how to correct GST in the Accounts and the GST 03 Form.
    • Declaring errors and corrections to Kastams.
  4. REVIEW GST ACT PROVISIONS
    • Power to re-assess GST by the DG Kastams.
    • Power to use GST refund for existing or future offsets
    • Penalties for incorrect or late GST lodgements.
    • Types of GST Audits and selection criteria of Kastams when calling for audits.
  5. EXPLANATION OF THE GAF AUDIT FILE IN THE ACCOUNTING SOFTWARE
    • Explanation of what is the GST “software patch” that Kastams has required in your accounting software.
    • The GAF Audit File : what it does and how it affects you.
    • Alternative to the GAF audit file acceptable to Kastams.
    • Documentation required by Kastams to substantiate the GAF Audit file.
  6. GST IMPACT ON EMPLOYEE BENEFITS, GIFTS AND ENTERTAINMENT BAD DEBT RELIEF RULES
    • What is “Blocked GST” and which Employee Benefits are affected.
    • GST rules for Gifts and how to reduce the GST impact.
    • Entertainment expenses policy and GST restriction.
    • Bad Debt Relief
    • Debit and Credit notes
  7. GST SELF AUDIT PROCESSES AND TECHNIQUES TO AVOID PROBLEMS WITH KASTAMS AUDITS.
    • The “high level” 6% test ; comparison of the GST numbers against the Financial Statements
    • Designing and generating GST “Exception” reports to detect and reduce errors.
    • The GST Audit Trail ; use of GST Transaction Listing
    • Review of GST Liabilities in the Balance Sheet against the GST 03 Forms.
  8. REVIEW OF INCOME TAX DEPARTMENT PUBLIC RULING (CHANGES) ON GST TRANSACTIONS RELEASED ON 07 JUNE 2017.
    • Income Tax deductibility rules for Input Tax paid on following situations:
      • Purchase of Capital Goods (Fixed Assets), transfers and disposals.
      • Input Tax claimable but not claimed by GST registered companies.
      • Input Tax paid by non GST registered companies
      • Input Tax paid by Exempt Supply companies.
      • Deemed Supply Output Tax incurred
      • Bad Debt Relief
      • Blocked Input Tax
    • GST adjustments by Kastams after accounting period close and Income Tax revisions.
    • When it should be acceptable to do Year End adjustments which have minimal GST and Income Tax impact.
    • GST reporting: Alternative source of detecting adjustments other than year-end adjustments.
Your Trainer

Mr. Sinnarajoo Gobinathan , FCCA (UK), MBA (USA), MIA - GST Registered Agent-Australia
Gobi Sinnarajoo is a UK qualified accountant with over 25 years working experience including 10+ years as Financial Controller for BP units in Indonesia and Vietnam. He was also the Finance Director for Bristol-Myers Squibb Vietnam. In 2006 he re-located to Melbourne Australia and worked for BP Australia for a 2 years before setting up his own accounting and management consultancy business there.

In terms of GST Gobi is a registered GST agent in Australia and he fully understands the practical issues to be faced when GST is implemented in Malaysia. Apart from Australia, Gobi has also GST implementation experience from Vietnam as he was involved in the GST transition there in 1999 while he was the Finance Controller for BP.
Over the past 12 months Gobi has been a GST Implementation consultant to many companies (including listed public companies) as well as conducted numerous public and in-house GST programs. At the moment Gobi is consulting on GST Audit and Compliance services.
In terms of GST programs Mr Gobi has a track record of being a pioneer in designing and delivering GST Accounting and Income Tax impact specific programs in Malaysia.

Gobi is an experienced and well received trainer, having run training programs, both public and in-house, for the last 15 years in Malaysia in various finance areas. He spends his time travelling between Malaysia and Australia, running his management consultancy business there and conducting training programs in KL.

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 25 October 2017 )
1 person or more ~ RM 1295 / person
Standard
1 person ~ RM 1395 / person
2 persons or more ~ RM 1295 / 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
Contact Us:
Scientia Training Sdn. Bhd. (1001247-U)
GST: 001871699968
Tel: 03-7735 6006     Fax: 03-6207 6727     
Info    019 335 1111     info@scientia.com.my
Sara    019 335 1111     sara@scientia.com.my
Nonie    019 327 1111     nonie@scientia.com.my
Max    012 375 2003     max@scientia.com.my
For Customised In-House Training:
Ronny     012 223 6666     ronny@scientia.com.my
Office Hour: Monday ~ Friday 8.30 am~5.30 pm
Click here to request for a Brochure
Copyright (c) 2015 by Scientia Training Sdn Bhd