Singapore legislation
Section 23
Section 23
Relief on supply of certain goods under Margin Scheme
(1)
The Minister may by regulations make provision for securing a reduction of the tax chargeable on the supply of goods of such descriptions as may be specified in the regulations in cases where no tax was chargeable on a previous supply of the goods and such other conditions are satisfied as may be specified in the regulations or as may be imposed by the Comptroller.
(2)
Tax chargeable on the supply of goods referred to in subsection (1) is (unless otherwise provided in regulations made under this section) reduced to the tax charged as if the supply of such goods was for a consideration equal to the excess of A–B, where —
A is the consideration for which the goods are supplied; and
B is the consideration for which the goods were acquired,and accordingly where there is no excess, the tax is not charged.
(3)
Regulations made under this section may include provisions —
for giving relief from the tax chargeable on the importation of goods of the description specified in the regulations; and
for securing a similar reduction where no tax was chargeable on the importation of goods of that description as where no tax was chargeable on a previous supply of the goods.
(4)
Regulations made under this section may extend to cases where the previous supply or the importation took place before tax was chargeable on any supply or importation.
(5)
This section applies, with the necessary modifications, in relation to cases where consequential relief from tax was given on a previous supply by regulations made under section 19(14) but the relief did not extend to the whole amount of the tax.
(6)
Regulations made under this section may make different provisions for goods of different descriptions and for different circumstances.
(7)
In this section, references to a supply on which no tax was chargeable include references to a transaction treated by virtue of an order under section 10(3) as neither a supply of goods nor a supply of services.
(8)
This section does not apply to —
a supply which is a letting on hire;
a supply if an invoice or similar document showing an amount as being tax or as being attributable to tax is issued in respect of the supply; and
any supply by a taxable person where the taxable person fails to keep such records and accounts as the Comptroller may in writing specify or to comply with such conditions as the Comptroller may impose.