Goods and Services Tax Act (Amendment of Second Schedule) Order 2005

Status:

Published in Subsidiary Legislation Supplement
on 07 Oct 2005

No. S 647

Goods and Services Tax Act

(Chapter 117A)

Goods and Services Tax Act (Amendment of Second Schedule) Order 2005

In exercise of the powers conferred by section 10 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 2005 and shall come into operation on 7th October 2005.

[Amendment of Second Schedule ]

2. The Second Schedule to the Goods and Services Tax Act is amended by deleting paragraph 6 and substituting the following paragraph:

“6. Where, in the case of a business carried on by a taxable person, goods forming part of the assets of a business are, under any power exercisable by another person —

(a)	sold; or
(b)	used in the making of any supply (other than a supply by way of sale),

by the other person in or towards satisfaction of a debt owed by the taxable person, the goods shall be deemed to be supplied by the taxable person in the course or furtherance of his business.”.

Made this 4th day of October 2005.

LIM SIONG GUAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF (R) R60.1.1 Vol. 32; AG/LEG/SL/117A/2002/1 Vol. 3]

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

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