GST Workshop


GST is a transaction based tax. Although a simple tax in principle, the application of the GST Act and IRAS guidelines on business transactions daily can be challenging for staff, especially fresh accountancy graduates or diploma holders. This one-day workshop incorporates key principles with practical examples to navigate participants through the Maze of GST.

Conducted by 2 trainers who collectively have 46 years of experience in GST, this workshop is highly recommended for new graduates and staff who are dealing with the administrative and financial transactions of a company. This training will add value to your curriculum vitae

Contents to be covered

  • Key Features of GST

  • Definition and Types of Supply
  • Place, Time and Value of Supply
  • Supply of Goods vs Supply of Services
  • Zero-rating of supplies

  • Export of goods
  • IRAS documentary requirement
  • International services
  • Important GST Issues

  • Bad debt relief
  • Recovery of expenses
  • Record keeping
  • Tips on conducting GST self review
  • Accounting entries for GST

  • Book-keeping for GST transactions
  • Relationship between GST and Income Tax
  • Claiming of Input Tax Credits

  • Conditions for claiming of input tax
  • Disallowed input tax
  • Input tax apportionment method
  • Repayment of unpaid input tax
  • Pre-registration and Pre-incorporation input tax
  • Deemed Supply

  • Gifts
  • Business assets put to private use
  • Fringe benefits
  • GST & Business Entities

  • Sole-proprietor
  • Partnership (including partnership property)
  • Corporation
  • Joint-Venture
  • GST Risk Management

  • Common errors resulting in Audit Assessments
  • Offences and Penalties
  • GST Audit
  • IRAS' ASK Compliance Review
  • Discussion & Issues Clarified