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Common GST Errors and Mistakes: Uncovering the Risk Areas and Improving Compliance

Expert Speaker J Selvarajah

MYR901.00 (including GST)

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Overview

GST legislation and procedures can often be misunderstood misinterpreted and understanding case studies in GST application is a practical way of avoiding costly mistakes.  The studies are drawn from actual cases in practice and will cover the requirements of the GST Act, 2014, the GST Regulations and Customs requirements.  This course will cover common GST mistakes and practical GST issues that are often misunderstood. 
Customs have stepped up the audit of GST registered persons and entities as a routine process and have discovered errors in GST-03 which has resulted in over claiming input tax and under-declaring output tax, declaring them in the wrong period and not registering as required under the GST Act, 2014.  
This power-packed informative seminar will give you a wide understanding of the practical aspects of GST in Malaysia especially in error prone areas.

What You Will Learn

At the end of this workshop, you will:
  • Understand the practical aspects of GST.
  • Master the GST error prone aspects and be more compliance.
  • Gain insights on Customs audits including frauds and evasions.
  • Minimise possibility of costly penalties by getting your GST reporting right.

Who Should Attend

This workshop is suitable for:
  • Financial Controllers
  • Finance Directors / Managers
  • Accountants and Accounting Staff

Programme Outline

Common Errors in GST and Key Provisions of the GST Act and Regulations
  • Input Tax Errors
  • Output Tax Errors
  • Import and Export of Goods and Services Errors
  • Tax Invoice, Debit and Credit Notes Errors
  • Capital Goods (Fixed Assets) Errors
  • Mixed Supplies Errors
  • Other Common Errors
Errors Discovered During Customs Audits, including GST Frauds and Evasions
  • Errors in tax invoices issued;
  • Filing of incorrect GST Returns;
  • Bad debts relief and non-payment of creditors after 6 months;
  • Relief conditions relating to Imports – Section 16 and Section 16(A) – (E) GST (Relief) Order, 2014;
  • Goods sold and exported and rejected – then re-imported;
  • Disaggregation of business to avoid GST – Customs discovery, understanding financial links, economic links and organisational links to avoid costly back payment of output tax and penalties;
  • Examples of disaggregation;
  • Claiming input tax without proper documents eg invalid tax invoice, fake K1 Forms etc resulting in Bill of Demand;
  • Supply of goods and services to government;
  • GST Frauds that affect genuine businesses – accepting GST evaded supplies and their consequences;
  • GST offences committed by businesses;
  • Other errors considered serious by Customs.
GST Questions and Answer Section
  • Queries on any GST issues are welcome and they will be addressed at the seminar!

Expert Speaker

J Selvarajah is a senior partner of a well-established professional practice in Kuala Lumpur which is a member of an international network of accounting and consulting firms serving a wide range of clients, supported by international committees, task force, frequent meetings and seminars, leading to consistent high standards. He is also the current Chairman of the international network.

He has 46 years of work experience in public practice particularly in external audit and financial reporting for public and private entities, internal audits, corporate governance and risk assessments, company secretarial practice and fraud prevention. He is also internal auditor for several public listed companies on Bursa Malaysia and SMEs’. He has also performed several investigative audits on accounting malpractices, embezzlement and money laundering. He is also actively engaged in GST Consultancy services for the clients of the practice.

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