GST Health Test Report is a one page report summarize your GST status and risk level, if any.
Historical details analysis and sorted database is stored in an EXCEL file.
"Secrets of your GST Health Test level is in your GAF files"
Especially when multiple GAF data files consolidated into a single database with quality analysis.
Analysis is from multiple perspective, based on actual GAF data, thus, quality insight and basis to ascertain client's GST health test level.
SAMPLE GST Health Test Report
From The Desk Of S.B. Lim
On 24 Nov 2016
Dear GST client,
GST Finding Report
Sample report below is an illustration of health test report and recommendation.
This 1 page report outlines the key findings (WHAT), root cause (WHY) and HOW MUCH is the financial impact (RM53K & RM51K) to the taxpayer
- LEAN RESOURCES - Similar to other SME, GST & Accounting, and Admin, was under a single staff;
- SOP - Record Keeping
--> No record keeping completeness checklist;
--> Staff turnover or different user thus no centralized database storage --> Complete retrieval within short notice, especailly to Custom, is an uphill task.
--> Enable GST database retrieval within 2 weeks from CUSTOM request date. Please read on Do You Know GST Duty To Keep Records
- Control & Audit - No visiability or audit tool to check ,GST return accuracy, such as GST Health Test Report
- Management focus on business development and operation.
- Responsiveness to process improvememt, such as Control & Audit, is compromise
The SOP and tools (marked in red) could turn into an opportunity easily. Please read on !!
CONCLUSION - Problem Statement
The appropriate counter measures should considered risk factors below. Details Top 7 GST offences and Risk
- Sooner an error was self detected and amended, the lower the penalty and financial impact to taxpayer
- Conversely, the higher and significant financial impact to the taxpayer, if the errors was uncovered by Custom, says 7 years later.
The GST Health Test Story
Based on a foreign based company GST database.
GST Health Test Report highlighted several arae for improvement (below); and Corrective Action Plan.
In Purchase Report
- Import transaction but without import supporting document for input tax claim
- Eligiable capital goods acquired but omitted input tax claim
In Supplies Report
- Deemed supply omitted to account for output tax
- Wrong tax code used in OS
In Ledger Report
- Other income omitted to account for output tax
- Wrong tax code used
WHAT DRIVE GST HEALTH TEST SERVICES
GST Health Test Report -BENEFITS
(1) GST Data Storage
1.1) Data Completeness - Every GAF file can load into a single dedicated database file for each entity.
1.2) Single source (file) complete data retrieval for Custom
1.3) Compliance to GST. Please read Do You Know GST Duty to Keep Records
(2) Analysis and Insight into Business Result
2.1) Analysis by accounts code. Revenue and expenditure growth
2.2) Analysis by GST tax code
2.3) Trend analysis Analysis by M / Q / Y
(3) GST Health Test Report and Risk assessment
3.1) Quantified Input Tax & Output Tax over / under claimed
3.2) Quantified number of transaction without adequate supporting
3.3) Quantified suppliers / customer without reference number
3.4) Quantified number of wrong GST tax codes used
(4) Documentation of Resolution Plan
4.1) Check list and things to do to ratify previous errors
4.2) Preventive action steps to avoid future errors.
4.3) Progress update / subsequent schedule test
(5) Recognition Certification
5.1) For Custom - Progress Report evidence GST return mistake was ratified ; Preventive steps , such as GST health test tools proactively filter future errorse
5.2) For 3rd party - Progress report evidence entity had ratified its GST errors. as such, does not have contingent liability (Penalty, compound, etc. charge due to GST return errors) due to Custom.
First GST Audit & Certification Tools
GST Health Test Report Offer
Generate GST Health Test Report in 2 days (#)
√ Price + GST = RM380 (#)
√ 10% Discount - Net Price + GST = RM342 (#)
√ BONUS 1 - Facilitate recovery plan implementation
√ BONUS 2 - Two Free GST Health Test
# Selected Accounting Program may generate different GAF database file format. As such, modification work is necessary to run the 1st GST Health Test Report.
The program modification work will require extra days.
Extra one off reasonable surcharge could be added, subject to clients acceptance.
GST Health Test Report
Money Back Guarantee Service.
Payment by customer upon order placement, is entitled to 100% Money Back Guarantee Refund.
The Money back Guarantee is valid after delivery of first GST Health Test service, up to the next two follow up GST Health Test (FOC).
So, if you sincerely feel I fell short in any way on delivering services I promised in this posts, I be happy to give you a complete refund, even if it's on the last day of the second follow up GST Health Test Report.
To exercise Money Back Guarantee Refund, you just have to write an email to firstname.lastname@example.org, alone with your banking account details.
Payment will be remit to your banking account within a week from your request date.
“This SPECIAL OFFER is only good until 28 Feb 2017.
After which, the GST Health Test Service will return to its original price offer."
What Next ?
Call S.B. Lim 019.9199149, or
email your contact details and request to email@example.com, I am happy to discuss how GST health test process could help you
ADVICE - The New Path
While my offer of GST Health Test Report is a "RISK FREE" offer,
You may feel uncertain, whether you should engage a new path in your 'GST process'
Perhaps the following check points help you in your decision making.
The Risk management aim to avoid GST Offences & Penalties (up to RM50K) and / or Imprisonment Term (up to 3 years)
- This is a "Risk Free" offer; and
- Successful enterprice have Business Contingency Plan --> such as ISO process / test. GST Health Test is another form of ISO test; and
- The Offer Price count down end soon