Welcome to our GST educational posts - GST annual certification checklist,
A recommended practice, and SOP for your GST processes.
Just download from link below
This single page GST annual certification check list, is a DIY tool.
Just print and check against your existing GST SOP, to determine your GST red flag, if any.
The check list format outlines -
- Listed roles by function, example, HR, Purchasing, etc
- Individual department should ensure its latest SOP readiness for implementation;
- Signed and dated by the respective owner certified each commitment to SOP
1st example (HR), HR initiative - Employee Handbooks (EH).
In general, EH should contain documentation of employee benefits subjected to GST. So that,
- input tax incurred (EX - provide free uniform) related to Employee Benefits, is allowed to be claim.
- Company goods provide free as Employee Benefits, output tax is not applicable.
2nd example (Purchasing) - Purchasing SOP
Purchasing SOP should include annual validation of every supplier code in GST system, before appoint or renew appointment of supplier.
This is to avoid claimed of input tax from an invalid GST supplier, which is an offence.
As each SOP is implemented, the SOP owner should signed (and dated) on the checklist.
Upon the GST annual certification checklist completely signed and dated, it demonstrated team work by each department / user, with its proactive steps to prevent error in GST return.
The checklist also has a back end check to filtered errors (if any). So, this is a closed loop check process.
Due to limited resources in Small and Median Industries (SMI), perhaps Accounting Staff may coordinate this self check process.
Alternatively, consider an outsource option to licensed GST agent (www.gstconsult.com.my).
Feel free to ask for a free of charge 1 to 1 consultation session to address your problem, such as
- Coaching and review accounting staff related to right tax code to used;
- Automated check tool to filter key entry errors; amend before submit amended return
- an annual certification check list
- Preparation of Employee Handbook, both for GST and HR purposes
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