Guide to GST Customer Accounting for Prescribed Goods: Mobile Phones, Memory Cards, Software

• Customer accounting for prescribed goods started on 1 Jan 2019 to prevent fraud where sellers abscond with GST.
• Applicable to mobile phones, memory cards, and off-the-shelf software.
• Guide explains customer accounting for these goods.
• Relevant for GST-registered businesses dealing with prescribed goods in Singapore.
• Sale of goods and services is taxable and subject to GST.
• Under customer accounting, the customer accounts for output tax if the sale value exceeds $10,000.
• Supplier issues a customer accounting tax invoice indicating the customer will account for GST.
• Customer accounts for output GST and can claim input tax if for business use.
• Prescribed goods include mobile phones, memory cards, and off-the-shelf software.
• Relevant supply is a taxable supply of prescribed goods over $10,000, not zero-rated or excepted.
• Excepted supply is a supply of prescribed goods excluded from customer accounting.

Source: iras.gov.sg

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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