A New Tax System (Goods and Services Tax) Act 1999
108‑5 Taxable supplies of goods in bond 108‑5 Taxable supplies of goods in bond etc.
Start here
Get a plain-English read of 108‑5 Taxable supplies of goods in bond
Turn the raw legal text into a practical explanation grounded in A New Tax System (Goods and Services Tax) Act 1999.
108‑5 Taxable supplies of goods in bond etc.
(1) 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. (2) 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. (3) This section has effect despite section 9‑75 (which is about the value of taxable supplies).