Programme Objective
 
The Finance Minister has announced in Budget 2022 that the GST rate will be increased from 7% to 8% on 1 January 2023 and 8% to 9% on 1 January 2024.

GST-registered businesses will have to ensure the right GST rate is applied to their transactions spanning the first rate change from 7% to 8% on 1 January 2023.

In this workshop, we will look at the GST rate change transitional rules to be observed for transactions spanning the GST rate hike on 1 January 2023.

Programme Outline

• Transitional rules for rate change from 7% to 8%
• Invoice is issued on/after 1 January 2023
• Invoice is issued before 1 January 2023
• Special situations
• Preparation checklist

On the completion of this course, you will:

• Learn to identify transactions that straddle the GST rate change on 1 January 2023
• Practical understanding of GST rate change transitional rules

Training Methodology
Lecture style with exercises / case studies

Closing Date for Registration
1 week before programme or until full enrolment

Intended For

All Levels