Getting Started with GST

Businesses often face difficulties in setting up their businesses to comply with GST requirements largerly due to businesses do not have a systematic way to deploy their intended efforts. This section provides AYA’s recommended GST implementation framework to guide businesses in developing their GST system.


Implementation Phases and Timeline

Alan Yoon Associates (AYA) recommends businesses to undergo four phases in implementing GST; while specially emphasizing the importance of allowing a trial period (Phase 3) to bolster any coding mistakes or unforeseen problems during implementation. Our recommended phases are illustrated below:



Suggested timeline as follows:



We suggest businesses allocating at least 2 months for researching and interpreting relevant GST impacts and regulations and another 2 months for businesses to test run the new GST systems parallelly for smooth transition.


The Journey of GST

The Journey of GST is the practical side of GST. It includes most, if not all of the actions to be taken by businesses in implementations, compliance and optimization of GST. This chart can also serve as a checklist for businesses to assess their current GST readiness.



For more details, download our handbooks by clicking here.

Top

Bar Graphic

Disclaimer

Copyright © 2010 www.alanyoonassociates.com.my . All Rights Reserved.