GST Essential Accounting Records and Book Keeping Skills


GST – a multi stage consumption levied on goods and services at all levels of business transactions, that has been taking effect since 1/4/2015 has gone through various updates in its implementation requirements. RMCD’s BOS strategy and its CIA (Collection Intelligence Arrangements) with IRB and SSM is set to visit to audit every GST registered companies in year 2018.

It is of paramount importance that every GST Registered Business account for the GST accurately and efficiently in the books of account and its record / document keeping, for its return submission, payment and refund and be ready for audit at all time. You do not know when you will be visited.

This program is to provide participants the substance for a comprehensive understanding of Accounting for the GST and Record keeping framework to meet the audit requirements any time. To achieve maximum retention of what is learn, participants will have active hands on in the accounting and recording of various kinds of GST transactions.

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Course Objective

  • Understand the latest GST Mechanism after incorporating all the amendments took place since 1/4/2015.
  • Hands on practice Accounting the RIGHT GST to Customs and its Accounts & Record Keeping requirements.
  • Avoiding of errors and committing offence in their implementations.
  • Knowing how to apply the appropriate tax codes to your daily transactions.
  • File correct GST returns.

Who Should Attend ?

  • Financial Controllers, Finance Managers, Tax Managers.
  • Accountants, Accounts Executives, Accounts Assistant.
  • Procurement / Purchasing and Logistics Manager.
  • HR and Administration Managers.
  • All Accounting Staffs involved in GST implementation.
  • All other functional staffs engaged in GST treatment in one way or another.

Methodology : 

Power point presentation, discussions and hands on assignments.
(A Calculator is require)


Introducing the Fundamental and Scopes of GST

– Mechanism and imposition of GST
– Classification and meaning of Supplies
– GST Input and Output Tax mechanism
– Taxable person and threshold determinations for registration

Registration Requirements need to be complied

– Two types: Mandatory and Voluntarily registration
– Threshold and Timing of Registrations
– Registration for :
(i) Sole proprietors, and Limited Liability Companies
(ii) Group, partnership, branches & divisions
– Registration Cancellation
– Responsibilities of a Registered Person

GST Implications on your day to day business transactions

A. Taxes on your Supplies (Sales)
– Type of supply and Rates of tax: (standard & zero rated supplies, exempt and out of scope supplies, disregarded supplies, supplies where GST is suspended,  supply under relief orders)
– Advance payment made and received
– Sales on consignment and Goods send for approval for sales and its returns
– Place, Time, (Basic and Actual Tax Point, the 21 days TOS  rule & the 30 days Invoicing Rules) and Value of supply (considerations and open market value application)
– Different GST treatment for back charge expenses such as “Disbursement” and “Reimbursement”
– Continuous supply of services and Retention monies for projects
– Deemed Supplies, Employees Benefits, Gift and treatments
– Samples and Stock write offs

B. Taxes implications on your acquisitions (Purchases)
– Allowable input tax to claim: Attribute and Apportionment concept
– Blocked input tax
– The Di Minimis Rule for Residual Input Tax Credit claims
– Input Tax for Incidental Exempt Supplies
– Repayments and Bad Debt relief compliance requirements
– Recording and claiming input tax on disbursement paid

GST Implications on your day to day business transactions

C. Taxes implications on selected common industries
– Free Zone (FIZ and FCZ)
– Designated Areas (Langkawi, Labuan & Tioman)
– Import and Export of goods and services
– Logistics and courier service
– Services for handling goods for export
– ASB, KSB and JDA

D. Schemes
– Warehousing Scheme
– Approved Traders Scheme
– Approved Toll Manufacturing Schemes
– Approved Jewellery manufacturing scheme
– Margin Scheme
– Fate Rated Scheme

Accounting Administration

– Valid Tax Invoices type: full, simplified, reliefs, disregards, etc
– Content of a VALID TAX INVOICE
– Debit and credit notes issuance for local and export sales
– Record Keeping and Taxable period
– Reversed Charge Mechanism (Recipient Self-Accounting (RSA): imported services, toll manufacturer drop shipment to principal’s customers
– Tax codes application
– New Additional GST Tax code requirements
– Filing the GST returns correctly including the different items that needs to be declared as required and timing of Tax payment
– Foreign currencies conversion
– GST expenses management

Accounting / Book Keeping entries

– Train your GST Tax coding and double entries under different scenarios
– Monthly control accounts and its reconciliation to the GST return form
– Master your GST return form (GST-03 form)’s information requirement

GST Legislations, implementation policies

– Legislations (Acts, Regulations, Orders)
– Customs implementation policies
– Offence and penalties
– GST offences under different Acts
– Anti-Avoidance Rules

Master your compliance and be ready for audit at all time

A. Audit Framework
– Purpose of an audit / your risk profile with Customs
– Choosing registered person to be audited
– Level of Audit

B. Different types of audit
– Advisory audit
– Desk audit
– Refund audit
– Transaction audit
– Compliance audit
– Large Tax Payer Unit audit
– Special audit as may be determine by the DG (Joint audit with Inland Revenue Board)

C. Preparation Stages for and Process of audit
– Preparation for an audit
– Trial Internal audit by yourself
– Post audit action plans
– Auditing guides from other countries
– Team involvement for the audit

Appeal Procedures

– Appeal to  Director General
– Appeal to Tribunals and decision effect from tribunal’s decision
– Appeal to courts

Discussions, Questions and Answers all along the way


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