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Public Consultation on Draft GST Amendment Billl 2012 is now opened till 27 July

9-Jul-2012

 

The Ministry of Finance is seeking feedback on the draft GST (Amendment) Bill 2012 covering the following GST changes (including those announced in the Budget Statement 2012). These include:

(a) Exempting the import and supply of investment-grade gold and precious metals from GST

(b) New Approved Refiner and Consolidator Scheme to enable them to claim input tax to make the first exempt supply of investment-grade precious metals after refining

(c) Extending the scope of GST zero-rating of  prescribed financial services relating to goods situated outside Singapore;

(d) Allowing the Comptroller and Minister to set conditions when granting GST remission;

(e) Extending the Temporary Removal Scheme to goods removed temporarily from approved warehouses for repairs;

(f) Allowing zero-rating of repair services performed on qualified goods outside the Approved Specialised Warehouse;

(g) Technical change to zero-rating relief for specified supplies made to Approved Marine Customers, and specified supplies made to overseas persons relating to specified goods kept in an Approved Specialised Warehouse; and

(h) Technical change to the Approved Contract Manufacturer & Trader (ACMT) Scheme.

Please refer to the attached files for more details.

 

Source: http://app.mof.gov.sg/pc_gst_2012.aspx

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