VAT TRAINING COURSE

VAT (Value Added Tax)

VAT is an indirect tax charged on most of the supplies of goods and services that are bought and sold.

The UAE Government has started implementing VAT in January 2018, and every business houses and accountants need to know all aspects of VAT.

This course is conducted conveniently to understand the A to Z of VAT implementation in the UAE. It can be completed in two full days (12 hours) or as per the convenience of the participants.

Course Structure 

This Course will cover entire UAE VAT in 11 Chapters

This Course will cover highlights of the Goods & Services Tax which include 10 Chapters.

Chapter 1:- Introduction to UAE VAT

Chapter 2:- Understanding VAT

• Understanding VAT
• Overview of VAT
• VAT Scope and Rate

Chapter 3:- Supplies under UAE VAT

• Definition of Supply
• Taxable Supplies
• Taxable Supplies – Case Study

Chapter 4:- Place of supply

Chapter 5:- Date of Supply

• Date of Supply
• Value of Supply

Chapter 6:- Tax Payable

Chapter 7:- Registration

Chapter 8:- Maintenance of Accounts

• Record Keeping
• VAT Invoices
• Audits
• Chapter 9:- Tax Return
• Tax Returns
• Tax Period, Payment etc

Chapter 10:- Penalties

Chapter 11 – Tally ERP for GCC VAT

Section 1: Create Company,Activate GCC VAT

Section 2: Creating Masters and set GCC VAT Rates

Lesson Objectives

Creating Stock Group

Creating Stock Items

Creating Service Ledger

Creating Sales Ledger

Creating Purchase Ledger

Section 3: Creating and Updating Party Ledgers

Section 4: GCC VAT Purchases

Section 5: GCC VAT Sales

Lesson Objectives

Record Domestic Sales

Record Sales to Registered Dealers in GCC Countries

Record Sales to Unregistered Dealers in GCC Countries

Record Sales of Goods and Services in a Single Invoice

Record Sales of Taxable and Exempt Items in a Single Invoice

Section 6: Sales in Accounting Invoice Mode

Section 7: Import of Goods and Services & Export Under GCC VAT

• Lesson Objectives
• Record Taxable Import of Goods
• Record Journal Voucher for Reverse Charge Liability
• Record Purchase of Services
• Record Exports to a Party in a non VAT Implementing GCC Country
• Record Export Sales to a Party Outside GCC Countries

Section 8: Supply on Profit Margin & Transfer of Right to Use & Advances Received Under GCC VAT

• Lesson Objectives
• Record Sales of Used Goods for Profit Margin
• Record Transfer of Right to Use
• Record Advances Received from Customer
• Record Raise Tax Liability
• Record Sales Voucher
• Record Reverse the Tax Liability on Advance Receipts
• Record Tax Payments

Section 9: Subsequent Sales

Section 10: GCC VAT Payments

Section 11: GCC VAT Opening Balance and GCC VAT Returns