GST: Advance Course on Reverse Charge, Partial Exemption and Changes in Zero-Rating Conditions

Overview

The reverse charge will come into effect from 1 January 2020 and this is one of the major GST changes in recent years.  If you are a partial exempt person and you have not done anything to cater for the reverse charge, fret not.  There is an option for you to apply the reverse charge at the end of the longer period if you are a partial exempt person with fluctuating input tax recovery rate.  

The earliest deadline to make the election is 29 February 2020 if your company have a year end of January, April, July or October.  For most of the companies who have a March, June, Sept or December year end, the election has to be made by April 2020.

JedTax is pleased to organise a two days advance course on reverse charge, partial exemption and changes in the zero-rating provision 

Day 1

• What makes you a partial exempt person
• Is there any opportunity to improve your input tax recovery rate
• Difference between regulation 33 exempt supplies, non-regulation exempt supplies and Incidental exempt supplies
• Attribution of input tax 
• Input tax apportionment
• Longer period adjustment

Day 2

• Reverse Charge mechanism 
• Scope of imported services
• Reporting requirement
• Common business scenarios and its implications
• How other companies deal with reverse charge 
• Changes in zero-rating provision due to the reverse charge
• GST recent updates