8 Steps General Checklist for GST implementation

1. Do the Directors and key persons in the respective departments understand the GST concepts and mechanism?
2. Have you conducted GST functional and operational impact studies and assessment?
3. Have you formed a GST Project Team, identified a GST Project Leader, and prepared a GST implementation plan?
4. Have you modified, upgraded or purchased GST-compliant accounting software and attended software training?
5. Does your Accounts & Finance Team has sufficient knowledge on GST treatments for specialised industry, GST accounting transactions, tax codes, GST-03 tax return and GAF?
6. Have you addressed GST transitional issues e.g. contract and supplies spanning?
7. What is your plan to prepare for GST implementation and continuous monitoring of GST compliance?
8. Have you prepared for a GST post-implementation review of the first taxable period GST-03 return and management accounts?

Get a copy of our book entitled "GST Implementation & Readiness Assessment - A Quick Business Guide & Checklist” for further information and details.