04 NOV GST IMPLEMENTATION : RESPONSIBILITY OF WHICH DEPARTMENT ? No Tags | GST GST implementation impact on all division of your business Contrary to common belief, GST is not just the duty of Finance or Account Department. GST involves more far reaching changes than that is perceived. It requires collaboration from all division of the company. Read on to discover what are the changes that needs to be in place to ensure GST is implemented properly. For those who have implemented GST or in the midst of GST implementation, one would have realised that it is not the comprehension of GST which is challenging , it is “CHANGE MANAGEMENT” that plays an important role. Sufficient understanding and cooperation are required to achieve smooth GST compliance. Visit our blog for latest update : http://synergytas.academy/blog-masonry/

1. 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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