GST Implementation Advisory & Planning

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Private Class from

3000/day

(3 Days)

BENEFITS

Upon completion of this programme, participants will be able to:

  • Review business transactions and processes
  • Advise on specific requirements
  • Advise on group registration
  • Identify and advise on the GST special scheme
  • Review and advise on long-term contracts
  • Advise on new or upgrade accounting system
  • Advise on transaction period
  • Advise on processes, documents, system design, customization of accounting system
  • Advise on GST- matters and legislative requirements
  • Discuss with the relevant key personnel for the following purposes:-
    • Review business structure and operation to identify negative impacts on GST
    • Obtain an overview of the business operation, structure and model
    • Understand the accounting system and applicable key process
    • Review the organizational chart and group structure to identify business unit/core business process
    • Assess the complexity of your group's business transaction and advise on the GST implication
    • Assess key operational issues to be addressed, including the strategic impact of GST on financial reporting, profitability pricing and cash flow of the group.
    • Review all existing contracts entered into by the company with the objective of determining the appropriate GST treatment.
    • Analyze the current business arrangement of the company and identify issues that are subject to transitional rules and the relevant issues that have arisen.
  • Prepare an action plan for the GST implementation (client together with the consultant)
  • Make recommendations and assist in the implementation according to the action plan
  • Assist in trail run to test the effectiveness and adequacy of the operating systems and process in order to ensure that they are GST-compliant

INTRODUCTION

In view of the complexity and scope of GST requirements, our GST Advisory & Planning Team will apply the Principal of “Keep it Simple & Short" to avoid any unnecessary complexities of GST that will affect your company.


We will prepare your staff and your organization to be GST ready so that they understand the tax mechanism and its application to the business which include amongst others; proper record-keeping requirements, appropriate treatment to the company's products and services, likely impact to cash flows, pricing strategies, business contracts and day-to-day accounting for sales and purchases.


AUDIENCE

This program is suitable for all executives, staff, supervisors and managers.


METHODOLOGY

This stimulating programme will maximize understanding and learning through training supported by PowerPoint Presentations, discussions, coaching and examples.

INITIAL REVIEW ON COMPANY BUSINESS STRUCTURE AND OPERATION
  • Perform An Initial Review Of Company’s Business Structure And Operation
  • Conduct An Initial Interview With HOD And Complete Business Review Questionnaire (BRQ)
  • Discuss The Identified Specific GST Issues In Respect Of The Initial Review
  • Discuss The Needs And Prepare The Customized GST Implantation Approach

GST AWARENESS TRAINING
  • Establish GST Team And Coordinator
  • Discuss Schedule Of Meetings
  • Project Timetable
  • List Of Persons In Charge
  • Identify Responsibilities And Duty Of GST Committee
  • Discover Processes, Possible Issues And Expectations With Key Personnel
  • Assist Company In GST Registration
  • Resource Planning
ADVISORY ON GST TRAINING
  • Advise GST Training Contents To Educate The Relevant Staff From The Various Departments
  • Plan And Organize GST Training For Management And Staff
PREPARE GST BUSINESS REVIEW QUESTIONNAIRE
  • Prepare GST Business Review Questionnaire (BRQ)
STUDY AND ANALYSIS
  • Mapping Of Transaction
  • Supplying Spanning GST
  • Address Transitional Issues And Special Refunds
  • Develop A Strategic Plan For The Contract Spanning The GST Implementation Date
  • Advise On Specific Requirements On Documentation For GST Purpose
ANALYSIS OF THE IMPACT OF GST (SALES & PROCUREMENT)
  • Business Role And Analysis Of GST Impact
  • Analyze The Impact Of GST On Its Suppliers
  • Analyze The Impact Of GST On Its Purchases
  • Analyze The Impact Of GST On Contracts
ANALYSIS OF THE IMPACT OF GST (HUMAN RESOURCES)
  • Analyze The Impact Of GST On Employee Benefits
  • Review HR Policy and All Employment Contracts Of All Levels.
ANALYSIS OF THE IMPACT OF GST (ACCOUNTS AND FINANCE)
  • Analyze The Impact Of GST On Costing Structure
  • Analyze The Impact Of GST On Cash Flow
  • Analyze The Impact Of GST On Transnational Transactions
GST PLAN AND MODIFICATION
  • Prepare GST Advisory Report Focusing On GST Impact Assessment
  • Operational Modification
  • Structural Modification
GST IMPLEMENTATION AND BUSINESS PREPARATION
  • Preparation For Implementation Of GST
  • GST Implementation Approach
  • GST Impact Across All Business
  • Business Preparation Timeline For GST Readiness
IMPLEMENTATION
  • IT And Accounting Readiness
  • Legal And Regulatory Readiness
  • Human Capital Readiness
  • Sales And Marketing Readiness
PREPARE GST ADVISORY REPORT FOCUSING ON IMPLICATIONS AND ACTIONS REQUIRED

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