This module includes All Features of New VAT Law (VAT Law 2012) and Impact of New VAT Law (VAT Law 2012) on Business Entities. The most probably the New VAT Law (VAT Law 2012) will be implemented 1st July, 2019. Therefore there are lots of changes will be required in Business entities in respect of VAT related matters such as record keeping, register etc.
Contents of Training:
A) Introduction and First Session:
1. Discussion on difference between VAT Law-1991 & VAT Law-2012 as well as feature.
2. Discussion on various important definitions and sections.
3. What is the Difference between Act & SRO?
4. What is the Difference and effect of Schedule & SRO?
5. Discussion on VAT Exemption, Truncated Base Value & Supplementary Duty?
6. Where is VAT applicable and rate of VAT.
7. VAT registration is applicable for whom?
8. Discussion on rebate/credit/debit system
9. Discussion on VDS procedure
10. Punishment of Failure VDS and other compliance.
B) Second Session- Practical class :
1. Discussion on Mushuk form 4.3, 6.1, 6.2, 6.2.1, 6.3, 6.4, 6.5, 6.6, 6.10
2. Preparation of VAT Return (Mushak-9.1) with sub-form.
C) Question & Answer : Answer will be given any time during the session.