This is just a sample of the things to do base on general departments, your organisation may differ. This list is created as reference to start you GST planning and implementation. It is not exhaustive, add more to the list as you go along. Note : This is just a reference, it does not constitute a GST advice or recommendation. Consult a GST Consultant if in doubt.

Training

Sales & marketing

Account & finance

GST project team

Human resources

Treasury

Inventory

Identify training policy to disseminate

GST know-how within the organisation.

Carefully review the cash flow.

Although liquidity may be improved (because

existing stocks bear no GST), however the GST

is still chargeable and payable by you

whether or not the cash has been received by

customer.

Failure to pay GST promptly can have serious

financial consequences.

Review current employee benefits policy to

identify the potential GST payable by

company.

Updating current employment policy and

contract as documentation for GST audit.

Depending on taxation of stocks and capital

goods under the earlier sales tax and

transitional provisions for reimbursement,

decide whether such purchases should be

advanced or delayed.

Full comprehension of the required delivery

procedures that are in line with GST policy.

Review the accounting system to ensure that

it creates the proper and convenient entries

required for filing GST return.

Identify the activities, transactions and

categories of revenue and expenditure for

which GST could have implications. For

instance, separate records will have to be

kept of sales at different rate of GST.

Identify the precise stage at which GST is

applies to each type of supply.

Contrary to common belief GST is not just the

duty of finance or account department, it requires

collaboration from all division of the company.

Read on to discover what are the changes that

need to be in place to order to ensure GST is

implemented is a swift.

Review and modify, existing stationery, especially “tax

invoices” for supply of goods and services.

Arrange for printing new forms in advanced as many

other may be making similar demand on printing.

Modify cash register;

Assess whether GST will have any effect on contract

obligations;

Ensure marketing personnel understand the basis for

price displays on price tag, price cards, and in

advertisement (take into account factor such as

“discount” and “credit”.

Review credit terms of existing customer, whether it

will trigger the “bad debt relief” mechanism.

Consider whether to display pricing “inclusive” or

“exclusive” of GST.

GST Implementation : Responsibility of Which Department ?

Appoint a senior staff to ensure that things

get done at the right time and in the right

order to prepare for GST. Use project planning

software such as basecamp.com or

teamgantt.com to monitor the team’s

progress. This staff member should be in

charge of training and ensuring among

themseleves their levels to understand GST and

how it may change their work internally, with

suppliers and with customers (for example : in

a retail store, the paperwork needed to refund

to tourist under Tourist Refund Scheme “TRS”).

Identify whether the company activities are

eligible to use the “cash” basis instead of

“invoice (accounting) basis”; if this option is

available identify which is more advantages

Determines whether change of accounting period is needed to ease satisfaction of GST requirements;

If an activity is conducted by a company that is part of a group of companies, determine in the light of

administration and cash flow) whether it should go for group registration;

Review any possible advantages from in house provision of “exempt” supply services;

Decide whether to carry our GST implementation in house or hire external aid

Monitor progress and reporting from gst consultant.

Preparation of standard operating procedure to ensure company wide operating policy and

documentation need in preparation for future GST audit.

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