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Disregarded Supply

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Disregarded Supply

Post by Admin on Sun Dec 14, 2014 12:48 pm

Under certain circumstances a supply of goods or services with consideration may be deemed as not a supply and no GST is chargeable. These supply are called disregarded supply.

The following are disregarded supply:-
1. Supply between members of the same group registration
2. Supply under the warehousing scheme
3. Supply between venture operators and venturers
4. Supply by a toll manufacturer for it's overseas principal.

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Re: Disregarded Supply

Post by yvonce on Tue Mar 10, 2015 1:14 pm

Hi All,

If a company who is branch for another company (under same company number) has been registered for GST separately under "GST branch registration", the supply from main company subject to GST?

Can this supply called disregarded supply (apply for 1. Supply between members of the same group registration)?

Thank you.

yvonce

Posts : 4
Join date : 2015-03-10

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Re: Disregarded Supply

Post by joseph on Tue Mar 10, 2015 2:35 pm

Supply within the same company from one HQ/branch to another branch/HQ, whether there is a branch registration or not, is not subject to GST. This inter-branch transfer of goods or services is neither a supply of goods nor services.

The HQ and the branches are, but one same taxable person. Branch registration is to facilitate the submission of GST returns only.

Supply from one company to another company within a group is subject to GST. This supply will be disregarded if there is a group registration for these 2 companies.

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

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Re: Disregarded Supply

Post by yvonce on Thu Mar 19, 2015 11:54 am

Hi,

Pertaining to inter-branch transfer of goods, can i create another new tax code with 0% to cater for this transaction in accounting system as i will receive tax invoice from main office and pay accordingly.

Thank you.


yvonce

Posts : 4
Join date : 2015-03-10

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Re: Disregarded Supply

Post by joseph on Thu Mar 19, 2015 12:33 pm

If inter-branch transactions are recorded in your accounting system, better use a separate tax code. And, if possible, such transactions should be excluded in your GST Audit File (GAF file).

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

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