TAKX Solutions' Understanding the Essentials of GST webinar 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 reimbursement, 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:
Day 1
- Introduction
- Overview & Basic Concepts of GST
- Types of Supply
- Output Tax vs Input Tax
- Tax Invoice, Simplified Tax Invoices & Receipts
- Foreign Currency Invoice
- Credit Notes & Debit Notes
- Claiming of Input Tax
- Bad Debt Relief
- Fringe Benefits - Update on Closed Nexus Test
- Recap
Day 2
- Imports
- Ownership of Goods
- Exports
- International Services
- Absorption of GST
- Price Displays
- Reimbursement vs Disbursement
- Open Market Value
- Disposal of Business Asset
- Purchase of a Brand New Motor Vehicle
- Sale of Second-Hand Motor Vehicle
- Discounts vs Rebates
- Sponsorships
- Free Samples
- Deposits
- Penalties & Interest
- Reimbursement of Handphone BIlls
- Entertainment & Office Expenses
- Incidental Expenses
- Record-keeping
- Recap