No. S 649
Goods and Services Tax Act
(Chapter 117A)
Goods and Services Tax Act (Amendment of Third Schedule) Order 2002
In exercise of the powers conferred by sections 17(6) and 86(1) 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 Third Schedule) Order 2002 and shall come into operation on 1st January 2003.
Amendment of Third Schedule
2.  The Third Schedule to the Goods and Services Tax Act is amended —
(a)by deleting the words “taken to be the cost of the goods to the person making the supply” in paragraph 8 and substituting the words “determined in accordance with sub-paragraphs (2) and (3)”; and
(b)by renumbering paragraph 8 as sub-paragraph (1) of that paragraph, and by inserting immediately thereafter the following sub-paragraphs:
(2)  The value of a supply referred to in sub-paragraph (1) shall be taken to be —
(a)such consideration in money as would be payable by the person making the supply if he were, at the time of the supply, to purchase goods identical in every respect (including age and condition) to the goods concerned;
(b)where the value cannot be ascertained in accordance with sub-paragraph (a), such consideration in money as would be payable by the person making the supply if he were, at the time of the supply, to purchase goods similar to, and of the same age and condition as, the goods concerned; or
(c)where the value cannot be ascertained in accordance with sub-paragraph (a) or (b), the cost of producing the goods concerned if they were produced at the time of the supply.
(3)  For the purposes of sub-paragraph (2), the amount of consideration in money that would be payable by any person if he were to purchase any goods shall be taken to be the amount that would be payable after the deduction of any amount included in the purchase price in respect of tax on the supply of the goods to that person.”.

Made this 18th day of December 2002.

LIM SIONG GUAN
Permanent Secretary,
Ministry of Finance,
Singapore.
[MF(R) R60.1.0013 Vol. 19; AG/LEG/SL/117A/2002/1 Vol. 1]
(To be presented to Parliament under section 86(2) of the Goods and Services Tax Act).