Goods and Services Tax Ruling

GSTR 2003/4A2 - Addendum

Goods and services tax: stores and spare parts for international flights and voyages

Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953 (TAA). It amends Goods and Services Tax Ruling GSTR 2003/4 to reflect the following changes made by Indirect Tax Laws Amendment (Assessment) Act 2012 which came into effect on 1 July 2012:

·
the introduction of the self assessment provisions in the TAA;
·
the amendment to paragraph 382-5(1)(b) of the TAA; and
·
the amendment to subsection 17-20(2) of the A new Tax System (Goods and Services Tax) Act 1999.

GSTR 2003/4 is amended as follows:

1. Paragraph 24

Omit the paragraph; substitute:


24. If suppliers of GST-free supplies treat their supplies as taxable when they lodge a BAS but later gain sufficient evidence to demonstrate that the supply is GST-free, the Commissioner may exercise the discretion to allow a refund of any overpaid GST: see Miscellaneous Taxation Ruling MT 2010/1.[6A] If a supplier satisfies the refund requirements set out in MT 2010/1, the supplier can obtain a refund, by lodging a revised BAS[7] or alternatively, in certain circumstances, may recover the overpaid amount in a later BAS.[8]

2. Footnote 7

Omit the footnote, substitute:


7. For tax periods that start on or after 1 July 2012 an assessment is made when the BAS is lodged. When entities lodge a revised BAS they are applying for an amendment.

3. Footnote 8

Omit the footnote, substitute:


8. If the conditions specified in GSTE 2013/1 - Goods and Services Tax: Correcting GST Errors determination 2013 are met.

4. Paragraph 75

(a) Omit third sentence 'Section 70 of the Taxation Administration Act 1953 provides (in part):' substitute: 'Subsection 382-5(1) of Schedule 1 to the Taxation Administration Act 1953 provides:'.

(b) Omit:


' Keeping records of indirect tax transactions

(1)
If you:

(a)
make a taxable supply, taxable importation, creditable acquisition or creditable importation; or
(b)
make a supply that is GST-free or input taxed; ...

you must:

(c)
keep records that record and explain all transactions and other acts you engage in that are relevant to that supply...; and
(d)
retain those records for at least 5 years after the completion of the transactions or acts to which they relate.'

Substitute:


' Records of transactions

(1)
You must:

(a)
keep records that record and explain all transactions and other acts you engage in that are relevant to a supply, importation, acquisition, dealing, manufacture or entitlement to which this subsection applies; and
(b)
retain those records for the longest of:

(i)
5 years after the completion of the transactions or acts to which they relate; and
(ii)
the period of review for any assessment of an assessable amount to which those records, transactions or acts relate; and
(iii)
if such an assessment has been amended under Subdivision 155-B - the period of 4 years mentioned in paragraph 155-70(2)(a) (which provides for a refreshed period of review) that applies to the latest such amendment.

5. Related Rulings/Determinations

(a) Insert:


'MT 2010/1; GSTE 2013/1'

(b) Omit:


'PSLA 2002/12'

6. Legislative References

Omit:

-
TAA 1953 70:

Insert:

-
TAA 1953 Sch 1 382-5(1)

This Addendum applies on and from 1 July 2012.

Commissioner of Taxation
31 July 2013

Footnotes


Miscellaneous Taxation Ruling MT 2010/1 Miscellaneous tax: restrictions on GST refunds under section 105-65 of Schedule 1 to the Taxation Administration Act 1953.

References

ATO references:
NO 1-4GNGI6Y

ISSN 1443-5160