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Webinar – Service Tax for Professional Service, Consulting and Management
- Written by Administrator
- Category: SWPC GST Certification Services
This certification project is to review and assess the client's GST operation for the past one year (12 taxable periods or 4 taxable quarters). This certification targets the GST registrants who have GST Audit File (V1 or V2) and GST-03 submission records.
This certification project will perform GST Review on the differences between GST Audit File and GST-03 and discovered any potential pitfalls via GST assessment analysis. At the same time, this project focuses on the internal controls of documentation and accounting software processes.
The project will take the following tasks:
- 3 days site visit to client's office to perform GST review and assessment analysis
- SWPC will provide a list of check lists for GST review and assessment
- SWPC will prepare a schedule for GST reconciliation between GST Audit File and GST-03. This includes independent GST review on potential GST pitfalls discovered during the course of assessment
- SWPC will prepare a follow-up check list for the GST registrant to determine whether any remedial actions to be taken to rectify known issues on internal controls and improvement on the weaknesses inside the accounting software
- SWPC will present a final project report for the documentation of the findings and follow-up items
- SWPC will issue a signed certificate to acknowledge that the GST review and assessment of the periods under review is completed.
The size of GST Audit File for 12 taxable periods or 4 quarters shall not be more than 20,000 transaction records in a single period in each Ledger Structure. If the size is greater than 20,000, additional efforts based on the volume will make to review and analyze. Alternatively, the number of periods to review will be shorter to the transaction volume not more than 240,000 ledger records in a taxable year.
Total investment for this project is MYR8,268.00 inclusive of 6% GST.
The visual map below is a typical eAudit procedure on GST Review and Assessment on GST Audit File and GST-03.