Singapore legislation

Regulation 86

of Goods and Services Tax (General) Regulations

Regulation 86

Records to be kept

Amended byS 895/2018 wef 01/01/2019

Subregulation 1

Any person who makes a claim to the Comptroller shall keep a record of that claim.

Subregulation 2

Except as the Comptroller may otherwise allow, the record referred to in paragraph (1) shall consist of the following information in respect of each claim made:

(a)

in respect of each relevant supply for that claim —

(i)

the amount of tax chargeable;

(ii)

the prescribed accounting period in which the tax chargeable was accounted for and paid to the Comptroller;

(iii)

the date and number of any invoice issued in relation thereto or, where there is no such invoice, such information as is necessary to identify the time, nature and debtor thereof; and

(iv)

any payment received therefor;

(b)

the outstanding amount to which the claim relates;

(c)

the amount of the claim; and

(d)

the prescribed accounting period in which the claim was made.

Subregulation 3

Amended byS 895/2018 wef 01/01/2019

Any records created in pursuance of this regulation must be kept —

(a)

in a single account to be known as the “refunds for bad debts account”; or

(b)

where regulation 83(1A) applies, in a single account to be known as the “reductions pursuant to bad debts account”.

Read in full context — Goods and Services Tax (General) Regulations →