Workshop Overview

This intensive program offers a deep dive into the mechanics of GST, with a focused examination of the rules and methodologies for accurate input tax recovery. Participants will gain a clear understanding of fundamental GST concepts, including supply classifications, qualifying conditions for claims, and the essential documentation for compliance. The session delves into critical areas such as timing of claims, apportionment rules, and the specific treatment of complex expenses like gifts, fringe benefits, and imported services.

Attendees will learn to identify and avoid common pitfalls in input tax claims through practical guidance, real-world scenarios, and expert insights. Covering everything from partial exemption rules to employee reimbursements, this workshop provides the knowledge and confidence to handle GST claims efficiently, ensuring compliance and optimizing recovery for your organization.

Programme Outline

1. GST Fundamentals: Core Concepts & Supply Types

· Mechanics of the GST system

· Understanding different types of supplies and purchases

· Categorizing supplies: Standard-Rated, Zero-Rated, and Exempt

2. Qualifying for Input Tax Recovery

· The essential conditions for a valid input tax claim

· Identifying and understanding non-claimable purchase GST

3. The Process of Claiming GST

· Timing: Claiming input tax in the correct accounting period

· Evidential requirements: Tax invoices, simplified invoices, and import permits

· Handling purchases made by employees

4. Calculating Recoverable Amounts

· Application of the de-minimis rule

· Principles of attribution and apportionment

· Navigating the impact of partial exemption

5. Navigating Complex & Specific Expenses

· Gifts, fringe benefits, and business entertainment

· Reverse charge mechanism on imported services

· Handling Imported Low-Value Goods and Prescribed Goods under Customer Accounting

6. Compliance & Error Prevention

· Identifying frequent errors in input tax claims

· Implementing best practices to avoid common pitfalls and ensure accuracy

Key Takeaways

✔ Understand the qualifying conditions and legislative restrictions for input tax recovery.

✔ Learn the correct timing and essential documentation required for compliant GST claims.

✔ Master the application of attribution rules and the financial impact of partial exemption.

✔ Identify common errors and implement strategies to avoid them in your claims.

✔ Gain clarity on the GST treatment for specific, complex expenses like entertainment, gifts, and imported services.

Who Should Attend?

· Accountants and Tax Professionals responsible for GST compliance and filing.

· Finance Managers & Controllers overseeing tax recovery, reporting, and financial strategy.

· Business Owners and Entrepreneurs seeking to optimize input tax claims and ensure compliance.

· Auditors and Compliance Officers tasked with ensuring accurate GST filings and internal controls.

· Procurement and Accounts Payable Teams managing vendor invoices and employee reimbursement processes.

This program is designed for professionals at all levels, from those requiring a solid foundation in GST principles to experienced practitioners looking to refine their expertise and stay current with best practices.

7 CPE Hrs (Others)