GST Course 2: Accounting for GST
GST is not income tax and the treatment of GST is completely different
from accounting for income tax. GST never enters into the income statement and if you
incorrectly include GST taxes as part of expenses in reporting the income
statement there would be serious accounting or audit issues.
GST Course 2: Accounting for GST his course is crucial to proper Bookkeeping and
Accounting and drawing up the Accounts and Financial Statements
properly and facilitating an audit. The precursor to this course is GST Course 1: What is GST which is the foundation
to understanding about how GST works.
Online Course 2: Accounting for GST. What does this course
cover? This GST e-Course covers:
• Before GST vs After GST: Accounting treatment for works or contracts that straddle from pre-registration
to post registration
• Accounting entries: (Debits and Credits, Journal Entries and T-Account) for
Sales, Purchases, Fixed Assets, Stocks, Employees’ Expense Claims, Sales Return, GST Account, Bad Debt
• How to prepare the Financial Statements: Income Statement and Balance Sheet, and Setting up GST Account
for GST receivable and GST payable
• How to prepare monthly sales and purchases reports and GST summary schedules: So that you can quickly and
accurately fill out the GST tax return every month or every quarter even though you only have one month’s time to
complete and submit the GST return and to pay the correct amount of GST without attracting a GST audit
If proper accounting, record keeping and reports are not in place, these might be issues or reasons for
the tax authority to delay, refuse or lower the GST refund back to you.
This GST e-Course also covers:
• How to claim Bad Debt Relief
• What is De Minimis rule: How to calculate and claim partial GST refund even if you are not allowed to
claim in full
• How to claim one-time Special Refund and Pre-registration Refund?
• How to calculate GST and invoice your customers correctly, and to ensure suppliers bill you correctly
• Special rules/ Special Transactions:
Second-Hand Goods Scheme (Margin Scheme), Designated area (DA): Langkawi, Labuan, Tioman, Repossessed Goods,
Auctioneers, Capital Goods, Vouchers / Stamps / Tokens, Agents vs Local Principal: Who is responsible to account
for GST?, Agents vs Overseas Principal: Who is responsible to account for GST?, Employee Benefits: Can you claim
input tax credit or GST refund or pay GST?
• What is the proper GST accounting treatment in various compliance situations on:
Absorbing GST, Advanced payment or deposit, Sale of capital goods by piecemeal vs business as a whole,
Continuous billing, Deemed supply, Gift, Discount, Export, Hire Purchase, Intra-company billing, Keeping accounting
records, Making GST claim, Price display, Re-billing, Returned goods, Tax invoice, Responsibilities, Trade in, When
to submit return and pay GST, Claiming GST refund, GST Relief, Tax receipt, Tax point, Consignment, Temporary
• The course also covers other matters on: What GST rate to apply for different sales transactions, How to
calculate GST for different price situations, How to determine the value of supply, When to recognise sales and
purchases into which tax return period, How to avoid some common mistakes, Issuing tax credit note for return of
goods, Managing cash flows, Avoiding the painful and expensive penalties and fines, How to account and administer
GST correctly in sales and purchases, Billing and charging customers, Calculating GST, Claiming bad debt relief,
Making GST claims, Filing GST return monthly or quarterly on time, And more…
Who is this course for?
This course is for: People in Accounting, Finance, Sales, Purchases, Inventory, Operations, Logistics who deal
with documentation that feed into the Accounting System.
Duty to Keep Records
Any person who contravenes this section of the GST Act commits an offence and shall, on conviction, be liable to a
fine not exceeding fifty thousand ringgit (RM50,000) or to imprisonment for a term not exceeding three years or
Register for GST training. This online GST tax course is available with immediate access. What are the
benefits of attending the GST course online:
• Immediate Access. Available anytime.
• Learn in the comforts of your office or home.
• No need to wait for seminar dates in some hotel somewhere.
• Anyone can attend from anywhere in Malaysia or overseas.
• Save on travelling time. No headache of parking or traffic jams
This intensive e-course lasts for 3 hours. You save time on toilet break, lunch
break, ‘wait for others to come back’ from lunch or refreshments break. If you are late for a seminar, you will
miss important information. With this e-Course, you won’t miss anything. You can replay it up to 24 hours.
What is the cost? Not RM4,500 as charged by MIA (click image to view). MIA’s course does
not even cover accounting entries, debit and credit, gst accounts or the financial statements. Not
RM4,500, RM3,995, RM2,997, RM1220,
RM990 or RM880. Only RM499. Yes, only RM499.
It's a small amount to pay compared to the painful mistakes and expensive fines for late registration of GST,
late submission of tax return and incorrect payment of GST tax.Penalty rates for failure or late payment of GST tax
is 5% for 30 days and the penalty rate increases every 30 days up to 25% for more than 181 days. Save yourself from
headaches and GST audit from the tax authority.
Price: RM499 ONLY
Get the GST e-course TODAY because the price will go up soon. Click the Buy Now button below and make your
payment. Please read the Payment Methods before
See you in our video e-course.