Goods and Services Tax Act (Amendment of Second Schedule) Order 2012

Status:

Published in Subsidiary Legislation Supplement
on 28 Sep 2012

No. S 487

Goods and Services Tax Act

(CHAPTER 117A)

Goods and Services Tax Act
(Amendment of Second Schedule)
Order 2012

In exercise of the powers conferred by section 10(3) of the Goods and Services Tax Act, the Minister for Finance hereby makes the following Order:

Citation and commencement

1. This Order may be cited as the Goods and Services Tax Act (Amendment of Second Schedule) Order 2012 and shall come into operation on 1st October 2012.

Amendment of Second Schedule

2. Paragraph 5 of the Second Schedule to the Goods and Services Tax Act is amended —

(a)

by deleting the words “(otherwise than as one forming part of a series or succession of gifts made to the same person from time to time)” in sub-paragraph (2)(a); and

(b)

by deleting sub-paragraph (4) and substituting the following sub-paragraph:

“(4) Neither sub-paragraph (1) nor sub-paragraph (3) shall require anything which a person carrying on a business does otherwise than for a consideration in relation to any goods to be treated as a supply except in a case where —

(a)	credit for input tax has been allowed to that person in whole or in part in respect of the supply of those goods or anything comprised in them to, or the importation of those goods or anything comprised in them by or for, the person; or
(b)	the goods comprise assets of another business transferred to the person as a going concern by another taxable person.”.

Made this 27th day of September 2012.

LIM SOO HOON

Permanent Secretary
(Finance) (Performance),
Ministry of Finance,
Singapore.

[R060.1.0001 v.49; AG/LLRD/SL/117A/2010/5 Vol. 1]

(To be presented to Parliament under section 86(2) of the Goods and Services Tax Act).

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