To better support GST-registered businesses (GRBs) in their journey of applying for or renewing the MES scheme, this timely and practical workshop by Wolters Kluwer is designed to equip participants with the essential knowledge and strategies.
In this session, Wolters Kluwer will delve into the key fundamentals that form the foundation of the MES scheme, outline the top 10 critical focus areas for effective management, and provide actionable insights on fine-tuning GST controls to ensure compliance and efficiency. This comprehensive approach will not only enhance GRBs’ ability to manage and minimize GST reporting risks but also empower them to navigate the complexities of their ASK review with confidence and ease.
By the end of this session, GRBs will be better positioned to streamline their processes, mitigate potential issues, and ensure a smooth renewal or application process.
A Highlight of Key Areas:
Back to Basics
- GST value chain
- Supply & Purchase
- Recovery of expenses
- Deeming
- Key fundamentals
ASK Review: Top 10 focus areas
- Transaction level aspect
- GST reporting level aspect
- Bonus areas
GST Controls
- How to prepare for an MES audit
- Reconciliation of MES imports
- Key areas to note for import & export documentation
- Section 33(2) vs 33A imports
- Practical approach to better manage imports on behalf
Level the Playing Field
- Using tools to support GST risk management
- Applying what we know
- Taking action
- Controls to contain risk
- GST InvoiceNow