This 1 day programme will address the following:
• Understanding the concepts of the Goods & Services Tax (GST), its rules and regulations.
• Administering the registered entity’s compliance with the various rules and regulations.
• Accounting for GST and completing the periodic GST returns for submission to the Inland Revenue Authority of Singapore.
• Maintaining accounting and other related records to ensure compliance with the GST rules and regulations.
• Concepts of Goods & Services Tax
• GST rules & regulations
• Timing of Supply (Including Updates)
• Administration of GST
• Accounting for GST
• Completing GST forms and returns
• Inter Co Billing & Recovery of Expenses
• Partial Exempt Trades and Input Tax Recovery
• Exchange Rates
• Transfer of Going Concern
• Bad Debts Relief
• Record keeping requirements
• Documents to be maintained for exports
• GST on Imports & Schemes to defer
• GST on Imports
• Procedures for pre-registration input tax claims
• Common Errors on filling GST Forms
• GST treatment on Hire Purchase and other financing instruments
• GST & E-Commerce
• Zero-rated services (Directly in connection with and directly benefit)
• GST and Properties
• GST for cash transactions
• GST Advance Ruling System
• GST: Assisted Compliance Assurance Programme (ACAP)
• Update on GST circulars in the year 2007 to 2011
• Update on GST Circulars from IRAS