Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 108.5

Taxable supplies of goods in bond etc.

             (1)  The value of a * taxable supply of * excisable goods that are in bond is the sum of:

                     (a)  the value of the supply worked out in the way set out in section 9-75; and

                     (b)  the amount of * excise duty to which the goods would have been subject if they had been entered for home consumption under the Excise Act 1901 at the time the supply first became a supply * connected with the indirect tax zone.

             (2)  However, this section does not apply to a supply of goods to a * recipient who:

                     (a)  is * registered or * required to be registered; and

                     (b)  acquires the goods solely for a * creditable purpose.

             (3)  This section has effect despite section 9-75 (which is about the value of taxable supplies).

   



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