TAKX Solutions's flagship Mastering the Basic & Intermediate Concepts of GST workshop is designed to equip participants with the knowledge and understanding to effectively apply the concepts of GST into their area of work - including GST treatment for international services, exports, disbursement vs reimbursment, gifts/benefits-in-kind for staff and business associates and more - that will enable you to complete the GST F5 return correctly and accurately, and avoid costly penalties. It is also ideal for current finance/accounting staff as a refresher and an ideal platform to clarify their doubts.
A Highlight of Key Areas:
Basic Concepts
- Overview of GST
- Types of Supply
- Output Tax vs Input Tax
- Tax Invoice, Simplified Tax Invoices & Receipts
- Credit Notes & Debit Notes
- Claiming of Input Tax
- Disallowed Input Tax Claims
- Imports
- Correcting Mistakes in Import Declaration
- Record-Keeping
- Completing the GST F5
Intermediate Concepts
- Foreign Currency Invoice
- Bad Debt Relief
- Fringe Benefits - Update on Closed Nexus Test
- Gifts
- Ownership of Goods
- Exports
- International Services
- Reimbursements vs Disbursements
- Entertainment Expenses
- Sponsorships
- Discounts & Rebates