4 October 2012
The Goods and Services Tax (General) (Amendment No. 2) Regulations 2012, published on 1 October 2012, are operationally effective on 1 October 2012.
A summary of the regulations to the Goods and Services Tax (General) Regulations (Rg 1) (the principal Regulations) that are amended are as follows:
Part III TAX INVOICES
- Amendment of heading in Part III, “Tax Invoices”
- New regulation 13A inserted, “Other invoices”
- General (regulation 14)
Part V INPUT TAX AND PARTIAL EXEMPTION
- Definitions and longer periods (regulation 25)
- Attribution of input tax to taxable supplies (regulation 29)
- Attribution of input tax to foreign and bonded warehouse supplies (regulation 31)
- Treatment of input tax attributable to exempt supplies as being attributable to taxable supplies (regulation 33)
- Input tax for land to be used for making exempt supplies (regulation 41)
PART VI REMISSION AND DEFERRED PAYMENT
- New regulation 46A: Approved refiner and consolidator scheme
Part XV GENERAL
- Offences (regulation 108)
SCHEDULES
- Renaming of Schedule
- New Second Schedule, “Particulars to be specified in the invoice”
Source: Government Gazette