{"id":879,"date":"2018-12-16T09:05:12","date_gmt":"2018-12-16T01:05:12","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=879"},"modified":"2019-04-08T07:34:02","modified_gmt":"2019-04-07T23:34:02","slug":"e-tax-guide-on-customer-accounting-for-prescribed-goods","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2018\/12\/16\/e-tax-guide-on-customer-accounting-for-prescribed-goods\/","title":{"rendered":"GST e-Tax Guide: Customer Accounting for Prescribed Goods"},"content":{"rendered":"<p><span style=\"color: #000000;\">On or about 13 December 2018, the Inland Revenue Authority of Singapore (IRAS) has published the e-Tax Guide on GST: Customer Accounting for Prescribed Goods (Second Edition) which replaces the first edition published on 15 September 2017.<\/span><\/p>\n<p><span style=\"color: #000000;\"> The amendments clarify the meaning of \u201coff-the-shelf software\u201d and to provide more examples of mobile phones, memory cards and off-the-shelf software which will fall within and outside the meaning of \u201cprescribed goods\u201d. <\/span><\/p>\n<p><span style=\"color: #000000;\">It also explain the GST input tax adjustments to be made by the GST-registered customer when credit notes are issued to cancel an original supply.<\/span><\/p>\n<p><span style=\"color: #000000;\">Customer accounting for certain prescribed goods will be implemented from<\/span><br \/>\n<span style=\"color: #000000;\">1 Jan 2019 to deter fraud schemes where the seller absconds with the GST<\/span><br \/>\n<span style=\"color: #000000;\">collected, but businesses further down the supply chain continue to claim the<\/span><br \/>\n<span style=\"color: #000000;\">input tax. It will be applicable to supplies of mobile phones, memory cards<\/span><br \/>\n<span style=\"color: #000000;\">and off-the-shelf software, which are commonly used in these fraud schemes.<\/span><\/p>\n<p><span style=\"color: #000000;\">The following are the summary of updates and amendments made:<\/span><\/p>\n<ol>\n<li><span style=\"color: #000000;\">Editorial changes to the guide<\/span><\/li>\n<li><span style=\"color: #000000;\">Updated paragraph 5 to clarify the meaning of \u2018off-the-shelf software\u2019 and to provide more examples of mobile phones, memory cards and off-the-shelf software which will fall within and outside the meaning of \u2018prescribed goods\u2019<\/span><\/li>\n<li><span style=\"color: #000000;\">Updated paragraphs 9.5.2 and 9.5.3 to explain the GST input tax adjustments to be made by the GST registered customer when credit notes are issued to cancel an original supply<\/span><\/li>\n<\/ol>\n<p class=\"hP\"><span style=\"color: #000000;\">Source: <i>IRAS website<\/i>, 16 December 2018<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On or about 13 December 2018, the Inland Revenue Authority of Singapore (IRAS) has published the e-Tax Guide on GST: Customer Accounting for Prescribed Goods (Second Edition) which replaces the first edition published on 15 September 2017. The amendments clarify the meaning of \u201coff-the-shelf software\u201d and to provide more examples of mobile phones, memory cards [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9,6],"tags":[],"class_list":["post-879","post","type-post","status-publish","format-standard","hentry","category-gst","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=879"}],"version-history":[{"count":3,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/879\/revisions"}],"predecessor-version":[{"id":975,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/879\/revisions\/975"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=879"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}