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

  1. Introduction to GCT

 

  1. How GCT Works

 

  1. GCT Registration

 

  1. GCT Rates
    • Who is to Register
    • Who is a person
    • What is a Taxable Activity
    • Exemption from Registration

 

  1. The Threshold

 

  1. Book Keeping – Records – Accounting Basis – Cash Vs Accruals
    • 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

 

  1. 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

$205.00
Understand the rudiments of the Jamaican General Consumption Tax, how it works, and its proper administration into your business and records keeping.

This Course is tutored by Advanced Accounting Training