VAT EXECUTIVE TRAINING (105 )

This Value Added Tax (VAT) Course covers real-world examples of VAT management, as well as VAT characterization, the history behind its vocabulary, illustrations of how to file VAT returns, how to watch out for impending violations in the VAT system, and guidelines on how to pass audit compliance checks skillfully.

This Value Added Tax (VAT) Course covers real-world examples of VAT management, as well as VAT characterization, the history behind its vocabulary, illustrations of how to file VAT returns, how to watch out for impending violations in the VAT system, and guidelines on how to pass audit compliance checks skillfully.

Day 1

• Fundamentals and History of VAT
• Basic Principles of VAT
• Organogram of National Board of Revenue, Field Offices & Functions
• Revenue Sources
• Different VAT Rates and Calculation
• Compliance online and Integration
• Brief discussion on VAT Schedules (i.e.: 1st, 2nd and 3rd Schedules)
• FAQ

Day 2

• Registration Eligibility and Process
• Registration Threshold
• When and How to Register for Resident and Non-Resident Organization
• Turnover Tax Enlistment and Procedure
• Central VAT Registration Benefit and Procedure
• FAQ

Day 3

• When and How to Deregister from Economic Activity
• Process of Amending any Information of the Business
• Reverse Charge Mechanism
• Export, Export Process & Benefit
• Difference Between Exemption and Export
• FAQ

Day 4

• Input, Input Tax, Input Tax Rebate (definition, process and mechanism)
• Condition of Rebate
• Claiming of Partial Rebate, Calculation and Practice
• Valuation and Calculation of AT, SD & VAT at Import and Local Supply Stage
• Adjustment and Bad Debts Settlement
• Case Study & FAQ

Day 5

• Preparation and Declaration of Input-output coefficient (Mushak-4.3)
• Consequences if Mushak-4.3 is not submitted
• Compliance and Maintenance of Books of Registers (i.e.: Purchase Register, Sales Register, Tax Invoice, Debit Note, Credit Note etc.)
• Case study on Mushak-4.3
• FAQ

Day 6

• Latest VAT Deduction at Source (VDS) Rules and Procedures
• Calculation of Net Tax Liability and Payment
• VAT Return & Preparation of VAT Return (Mushak-9.1)
• FAQ

Day 7

• Late & Amended VAT Return Submission
• Submission of VAT Return through Online
• VAT & AT Refund Process
• VAT Authority & Adjudication Power
• Offences and Penalties
• Appeal to Commissioner (Appeal), Appellate Tribunal & High Court Division
• FAQ