FMM Institute (475427-W), Penang Branch

FMM Institute (475427-W), Penang Branch

Introduction

The government has announced the implementation of GST on 01 April 2014. All business owners and all unit managers must be aware of the implications and effects of GST on their business as well as their responsibilities in the GST implementation. It is of utmost importance that all personnel from the Licenced Manufacturing Warehouse understand the impact of GST to their businesses and it involves not only the Finance Department but everyone in the entire Supply Chain Assembly, starting from the Directors, General, Managers, Chief Financial Officer, Accountants, Daily Operations, Shipping, Logistics including Customs Services Executives and Representatives.

This will ensure that the essential GST readiness for your business is a coordinated effort by all key business units within the business organization, as thiscross-functionalawareness and learning issue will affect the entire business structure.

This program aims to equip you with the Fundamental of GST and its Mechanisms Including the Facilitative Schemes, so that your organization can make the necessary preparationand be proactively ready for the GST implementation.

Objectives:

Upon completion of the program, the participants will be able to:

1. Be acquainted with the essential knowledgeon GST Fundamental, Its Mechanisms Including the Facilitative Schemes especially for the Licenced Manufacturing Warehouse and its Compliance

1. Have a clear understanding of GST concepts and implementation issues

1. Equip themselves with the necessary knowledge on how to manage the GST transition as well as know-how on how to compute and file their GST returns accurately

1. To be proactively ready and prepared for GST implementation initiatives.

Program

Day 1-

8:30 - 09:00Registration

09:05Welcome Remarks

09:10 - 10:30Module 1:Overview of GoodsServices Tax in Malaysia

• Why GST?
• GST Terminologies
• General Concept of GST
• Proposed GST Model
• GST Mechanism
• Conclusion

10:30 - 10:45Morning Coffee break & Networking

10:45 - 12:00Module 2:GST Element and Scope

• Element and Scope of GST
• Test for GST
• Supply of Goods and Services
• Meaning of business
• 5 Business Test Rules
• Taxable person
• Time of supply
• Special Rules
• Place of supply of Goods & Services
• Consideration
• Value of supply
• Exempt Supply
• Zero rated Supply
• Out of Scope Supply

12.00 - 13:00Module 3:Registration

• Registration requirements
• Exemption from Registration
• Determination of Threshold; Historical or Future Method
• Late Registration Penalties

13:00 – 14:00Lunch & Networking

14:00 – 15:45Module 4:Input Tax Credit (ITC)

• Definition of Input Tax
• Mechanism to claim Input Tax
• Allowable Input Tax
• Non allowable Input tax (Blocked Input Tax)
• De Minimis Limit
• Attribution & Apportionment Flow Chart
• Input Tax Adjustments
• Refund of Input Tax
• Criteria for claiming Input Tax

15.45 – 16:00Evening Coffee Break & Networking

16:00 – 17:00Module 5:Accounting for GST

• Tax Invoice

Full Tax Invoice & Required Particulars

• Credit Note Required Particulars
• Debit Note Required Particulars
• Bad Debt Relief
• Bad Debt Recovery & JKED 02
• Taxable Period
• Filling Of GST Return - Payment & Refund
• Penalty for Late Filing of Returns
• Record Keeping

17:00End of Day One

Day 2-

09:00 – 10:00Module 6:Reliefs, Exemption, Refund And Remission

• Reliefs
• Refund
• Bad Debts Provision
• Tourist Refund Scheme
• Remission of Tax
• Remission of tax On Lost Goods Under Customs Control

10:00 – 11:00Module 7: GST Treatment on Licenced Manufacturing Warehouse (LMW)

• GST Implications to Manufacturing
• What Is A Licensed Manufacturind Warehouse (LMW)
• GST Treatment For LMW
• GST Implication On Goods Supplied From LMW
• Accounting For Output Tax And Customs Duty
• GST- Special Valuation
• GST Implication On Services Acquired By A LMW
• Farming OutWithin Malaysia
• Farming Out Outside Malaysia
• Sub Contract Work Under ATMS
• Drop shipment
• Employee benefits
• Loan on stock and equipment
• Discount
• Trade-in Goods
• Other transactions

11:00 – 11:15Morning Coffee break & Networking

11:15 – 13:00Module 8: Special Schemes

• Approved Trader Scheme (ATS)
• Approved Toll Manufacturer Scheme (ATMS)
• Warehousing Scheme (WS)
• Designated Areas

13:00 – 14:00Lunch & Networking

14:00 – 15:45Module 9: Transitional Rules

• Registration Before Appointed Date
• Non Reviewable Contract
• Supplies Spanning GST
• Progressive Or Periodic Payment
• Special Refund For Goods Held On Hand
• Retention Payments
• Unredeemed Vouchers
• Warranty
• Some Obligations Of Taxable Persons
• Offences & Penalties Under GST Act 2014

15.45 – 16:00Evening Coffee Break & Networking

16:00 – 17:00Module 10:What Business Should Do To Prepare For GST

• Establishing GST Committee
• Business Preparation
• Modification to accounting system
• Preparing bills and invoices
• GST Legal & Regulatory Compliance

Goods & Services Tax Act 2014

Goods & Services Tax Regulation 2014

Goods & Services Tax (Relief) Order 2014

Goods & Services Tax ( Zero Rated Supplies) Order 2014

Goods & Services Tax (Exempt Supplies) Order 2014

• Price Control and Anti-Profiteering Act 2011

Section 14 - Offence to Profiteer

Section 15 - Mechanism To Determine Unreasonably High Profit

Section 18 - Penalty

• GST Audit
• Guide To Enhancing Your Accounting Software To Be GST Compliant

• Utilising GST Portal
• GST Forms

CONCLUSION

17:00End of Day Two

Who Should Attend

Directors, General Managers, Finance Managers, Accountants, Accounting Staff, Entreprenuer and Executives from Operations, Sales, Purchase & Administration Departments.

THE FACILITATOR

Mr. Jeyasingam R, MBA (Human Resource Management), has vast experience and an abundance of knowledge in the field of administration and enforcement of Malaysian Customs laws, regulation and related procedures. He has more than 35 years of experience in the Royal Malaysian Customs Department. He has served hands-on in various divisions of the Department namely; the Import / Export at the Air Cargo Subang International Airport, Kuala Lumpur Sales Tax; Taiping Industries; Ipoh Industries / Free Industrial Zone and the Passenger Examination Divison at the Penang International Airport. He was also actively involved in the Subang International Airport Air Cargo User Task Force Team that developed the Customs Information System (SMK) between 1994 - 1996

He has also conducted numerous trainings for the benefit of the manufacturing and service sectors in areas of Customs laws, regulations and related procedures. He was also a panel lecturer for the Forwarding Agents’ Basic Course being conducted by the Department in collaboration with the Penang Freight Forwarders Association and with the Institute of Federation of Malaysian Manufacturers, (FMM) Northern Branch.

He was the Head of Customs of the Free Commercial Zone Division at the Second Air Cargo Complex (MAB), Penang International Airport for four (4) years and as the Head of the Post Import Audit Division, Ipoh, as Senior Assistant Director of Customs before his retirement in May 2011, Upon retirement, he worked as Logistics and Compliance Manager for two years with World Micro Components (M) Sdn. Bhd. (a US-based electronic components distributor) at the FCZ Penang Airports.

He is currently a HRDF registered Trainer and Customs Advisor with Rakan Management Services. He is also registered as trainer with Penang Freight Forwarders Association, FMM Perak, FFM Institute Perak, MICCI Perak Branch, FMM Selangor, FMM Kedah/Perlis and FMM Malacca. He also provides training on GST with the pending implementation of the Proposed Malaysian Goods Services Tax (GST)

ADMINISTRATIVE DETAILS

COURSE FEERM990 (FMM Member) / RM1100 (Non-Member) per participant

(The fee includes luncheon, coffee/tea breaks and notes)

Price not including GST

DRESS CODEOffice Attire

REGISTRATIONParticipation in the program is based on a first-come-first-served

basis. Cheques made in favor of the “FMM Institute” should be forwarded on or before program date to the FMM Institute, Northern Branch, Bandar Seberang Jaya. Participant who registered but did not attend, will be billed accordingly. Upon confirmation, kindly send us the payment before the commencement of the program.

CANCELLATIONThere will be no refund for cancellation within 2 days prior to the program, 50% for cancellation between 3 – 6 days and full refund for cancellation 7 days prior to the program. Please inform in writing if you intend to cancel. A replacement can be accepted at no additional cost.

DISCLAIMERThe FMM Institute reserves the right to change the facilitator, date and

to vary / cancel the program should unavoidable circumstances

arise. All efforts will be taken to inform participants of the changes.

Upon sending the registration form, you are deemed to have read

and accepted the terms and conditions.

ENQUIRIESMs Nazliza / Haffiz/Rahayu

FMM Institute

No 2767, Mukim 11, Lebuh Tenggiri 2, Bandar Seberang Jaya,

13700 Seberang Perai

Tel: 04-6302052 ( Nazliza ) / 04-3992057 ( Haffiz )

Fax: 04-6302054 /

Email:

CLOSING DATE 7June 2015

REGISTRATION FORM