UNDERSTANDING GOODS AND SERVICES TAX (GST) IN MALAYSIA DURATION: 2 DAYS; TIME SCHEDULE Time - 9:00am to 5:00pm Break - 10:15am to 10.30am and 3:15pm to 3:30pm Lunch - 1:00pm to 2:00pm INTRODUCTION This training program provides an understanding of GST implementation that may affect all organizations in Malaysia that will replace the existing Sales and Service tax regime. Implementation of GST in Malaysia requires coordination of all business organizations, it is a “cross functional” issue that can affect the entire business structure and hence requires input from all key-business units. BENEFITS Upon completion of this program, participants will be able to: Understand the overview of GST implementation in Malaysia Prepare the organization for the implementation of GST Evaluate the impact of GST implementation over business organization Identify major issues related to GST Know key elements of GST and its mechanism Know implications of GST on businesses Identify and review business activities in line with GST Effectively overcome implementation, compliance and enforcement issues Understand treatment of transitional issues upon implementation of GST KEY CONTENT MODULE 1 - INTRODUCTION OF GST MODULE 2 - INTRODUCTION, MECHANISM AND TYPES OF GST SUPPLIES Consumption Tax Sales And Services Tax Replacement And Widening The Scope Of Taxation VAT Taxation Procedure Basis The Need Of Change MODULE 3 - THE IMPOSITION OF GST MECHANISM Output Tax Input Tax Input Tax Credit ( ITC) MODULE 4 - ELEMENTS OF THE SCOPE OF GST Supply Of Goods And Service o Meaning Of Supply o Determination Of Goods And Services o Importation And Reverse Charge MODULE 5 - TAXABLE PERSON Meaning Of Persons Determination Of Taxable Persons 1|P a g e
MODULE 6 - TYPES OF SUPPLY Standard-Rated Supply Zero-Rated Supply Exempt Supply Out-Of-Scope Supply MODULE 7 - CONCEPT OF SUPPLY Place Of Supply Time Of Supply Value Of Supply MODULE 8 - REGISTRATION Mandatory Registration o Liability To Register o Determination Of Taxable Turnover o End Of Liability & Deregistration o Exemption From Registration Voluntary Registration o Types Of Registration MODULE 9 - ACCOUNTING FOR GST Taxable Period Accounting Basis Bad Debt Provision Tax Invoice & Simplified Tax Invoice Debit Note & Credit Note Record Keeping GST Returns Adjustment For Credit Note, Debit Note And Bad Debt Relief MODULE 10 - OFFENCES AND PENALTY MODULE 11 - GST IMPLEMENTATION & KEY CONSIDERATION AUDIENCE This program is suitable for Business Owner, Managing Director, General Managers, Manufacturers & Traders, Purchasing/Procurement Managers, Operations Managers, Finance and Accounts managers & executives. Level for Executive and above. METHODOLOGY Lectures, supported with power point presentations, discussions and Q&A session.