New e-Tax guide on customer accounting for prescribed goods
Customer accounting for certain prescribed goods will be implemented from 1 Jan 2019 to deter fraud schemes where the seller absconds with the GST collected, but businesses further down the supply chain continue to claim the input tax.
It will be applicable to supplies of mobile phones, memory cards and off-the-shelf software, which are commonly used in these fraud schemes. The guide explains how businesses would apply customer accounting for transactions in mobile phones, memory cards and off-the-shelf software (“prescribed goods”).
For more information, please refer to the guide here: