A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  


The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 108 - Valuation of taxable supplies of goods in bond  

108-5   Taxable supplies of goods in bond etc.  


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 .

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 .

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

This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.