When do I have to account for GST for the sale of other types of jewellery?
The GST for the sale of other types of jewellery is to be accounted for at the earliest of the following events: • Date when the goods are delivered or made available to your customer; • Date when the payment is received; or • Date of issuance of your tax invoice. Where the date when the goods are delivered or made available to your customer is the first event and the tax invoice is issued within 14 days from the date of delivery of the goods, you may then account for GST based on the date of the tax invoice. To learn more about GST treatment for common business scenarios that occur in the gold jewellery industry, an e-tax guide on ‘GST And The Gold Jewellery Industry’ is available on the Inland Revenue Authority of Singapore’s website ( www.iras.gov.sg ). For further details, please visit EnterpriseOne at www.business.gov.sg or e-mail enterpriseone@spring.gov.sg Advice provided in this column is not meant as a substitute for comprehensive professional advice. E-mail questions to a1adm
