General Consumption Tax (GCT) Workshop
Understand the rudiments of the Jamaican General Consumption Tax, how it works, and its proper administration into your business and records keeping.
Course Outline
- Introduction to GCT
- How GCT Works
- GCT Registration
- GCT Rates
- Who is to Register
- Who is a person
- What is a Taxable Activity
- Exemption from Registration
- The Threshold
- Book Keeping – Records – Accounting Basis – Cash Vs Accruals
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- Purchases and Sales Books
- Purchase Invoices/Import and Export Documentation
- Sales Invoices, Services Billings Invoices
- Credit or Debit Notes
- Income and Expenditure Records
- Cash Register Tapes
- Copies of GCT Returns
- Charts and Code of Accounts
- Purchase Orders Stamped as Zero-rated by TAJ Officers
- Accounting Instruction Manuals
- A GCT Account and a Special Consumption Tax Account or both
- System and Programme Documentation which describes the Accounting System maintained on a Computer including computer tapes, computer disks, and microfilm
- Bank Statements
- Tax Invoices
- Calculation of GCT & Filing GCT Returns
- Taxable Supply
- Place of Supply
- Time of Supply
- GCT Output Tax
- GCT Input Tax
- GCT Payables/Creditable
Contact Us
Visit: Suite 3, 3 Beechwood Avenue, Kingston 5 | Phone: 876-929-2779 / 383-7392 | Email: advancedaccountingltd@yahoo.com
GCT Accounting & Reporting GCT
Understand the rudiments of the Jamaican General Consumption Tax, how it works, and its proper administration into your business and records keeping.
