Understanding Of Goods And Services Tax GST For Freight Transportation And Logistics

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  • Private Class Price is Per Day not Per Pax
  • Send 1 or 20 pax for the same price
  • HDRF Claimable(SBL)

Private Class from

2400/day

(2 Days)

BENEFITS

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

  • Acquire and understand the key elements of GST and its mechanism
  • Analyze and understand its effects on business operations
  • Provide general principal and GST guide on freight transportation and logistics
  • Keep updated on the GST legislations and requirement
  • Analyze and understand its effects on business operation and transitional issues
  • Acquire the general concept and overview of the GST, accounting treatment and computation of GST in term of input and output tax
  • Know the GST impact on the existing accounting and IT system

INTRODUCTION

This GST training program will allow the participants to acquire and understand the key elements of GST and its mechanism, analyze and understand its effects on the business operations as well as provide general GST guide on the construction industry and property development. It is critical for business entrepreneur and other operating unit heads to keep updated on the GST legislations and requirement, analyse and understand its effects on the business operation and the transitional issues. Participant will acquire the general concept and overview of the GST, accounting treatment and computation of GST in term of input and output tax and GST impact on the existing accounting and IT system.

AUDIENCE

This program is suitable for accounting staff, business entrepreneur, operation executive, marketing, logistics manager and officer, procurement, human resource personnel, business planner, freight service manager and officer, contract executive and general managers.

METHODOLOGY

This stimulating program will maximizes the understanding and learning through lectures, supported by power point presentations, discussions and examples.

SALE AND SERVICE TAX (SST)
  • Legislation For Current SST
  • Scope Of Sales Tax And Service Tax
INTRODUCTION OF GST
  • Reasons For Implementation
  • GST Impact On Prices
  • Price Control And Anti-Profiteering Act
GENERAL FRAMEWORK OF GST
  • Scope Of Tax
  • Impact On Pricing To Individual Consumer (Current Sales Tax V GST)
BASIC FUNDAMENTAL OF GST
  • Scope Of Tax
  • Place Of Supply
  • Reverse Charge
  • Value Of Supply
  • Supply Of Services
  • Time Of Supply/Tax Point
  • Basic Tax Point
  • Exception Of General Rules
HOW DOES GST WORKS?
  • Taxable Person
  • Output Tax – Standard-Rated Supply
  • Zero-Rated Supply
  • Exempt Supply
  • GST Computation
LIABILITY TO REGISTER AND DEREGISTRATION
  • Mandatory And Voluntarily Registration
  • Group Registration
  • Branch Registration
  • Deregistration
ACCOUNTING OF GST
  • Taxable Period
  • Accrual (Invoice) Basis
  • Payment (Cash) Basis
  • Issuing Tax Invoices
  • Input Tax Credit Mechanism
  • Condition Governing Input Tax Claim
  • Apportionment Of Input Tax – Standard Method
  • De Minimis Principle
  • Annual Adjustment/Longer Period Adjustment
  • Filling GST Return
  • Paying GST
  • Claim GST Refund
ADJUSTMENTS UNDER GST
  • Adjustment To Input Tax And Output Tax
  • Adjustment Due To Issue Debit Note, Credit Note And Discount
  • Adjustment For Bad Debt Relief And Subsequent Repayment
  • Formula Bad Debt Relief
GST GUIDE ON FREIGHT TRANSPORTATION AND LOGISTIC
  • Overview Of GST Treatment On Freight Transportation
  • International Freight Transportation
  • Domestic Freight Transportation
  • Ancillary Transport Services
  • Treatment For Goods Transported By Ferry
  • Goods Sent By Post
  • Treatment For Freight Transportation Provided In And To Free Ports
  • GST Treatment For The Services Of Arranging Freight Transportation
  • Chartering Services
  • GST Incurred On Input For A Supplier Of Freight Transportation
  • Goods Lost And Destroyed
  • Loss Of Goods During Delivery
GST IMPLEMENTATION APPROACH/CHALLENGES
  • GST Impact Study
  • Transaction Analysis
  • Review Of Transitional Contract
  • Analysis Of Employee Benefit
  • Documentation Review
  • IT/System Review
  • Implement And Execute Key Task
  • Post Implementation
TRANSITIONAL ISSUES
  • Special Refund For Sales Tax On Stock And Inventory
  • GST On Employee Benefit
  • Goods Given Free To Employees
  • Supply Of Goods Under Gift Rule
  • Capital Goods Adjustment (CGA)
  • Value Of Capital Goods For CGA Purpose
SPECIAL RULES
  • Warehouse Scheme
  • Approved Trader Scheme (ATS)
  • Relief For Second Hand Goods

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