On or about 24 September 2019, the IRAS has released the eleventh edition of the e-Tax Guide GST: Guide on Exemption of Investment Precious Metals.
The revised e-Tax Guide incorporates the following updates:
- inserted information to explain the input tax recovery rules applicable to Reverse Charge (“RC”) Businesses
- amended a table and added information to explain input tax attribution and apportionment rules applicable to RC businesses
- inserted information to explain that RC is not applicable for approved refiners, and
- amended illustration to include transactions that are subject to GST under the RC regime with effect from 1 January 2020.
- Kindly visit the IRAS website for more information.
For more information, please visit the IRAS website.
Source: IRAS website, 24 September 2019.