18
Start : Chap 16 Pg 264 (Value) End : Chap 16 Pg 303 (End) Recording : GST
Start : Chap 16 Pg 264 (Value)
End : Chap 16 Pg 303 (End)
Recording : GST
F6 – Chap 16
Time of supply
Co. A Co. B
Year End
Tax Invoice Date
Payment date
30 June
10 Apr 2016
25 Apr 2016
31 July
10 Apr 2016
25 Apr 2016
F6 – Chap 16
Z Ltd
Purchase date (30 days credit)
Purchase price (including GST)
Input GST claimed
10 March 2015
$10,700
QE 31 March 2015
F6 – Chap 16
X Ltd
Invoice date
Purchase price (including GST)
10 January 2015
$5,350
F6 – Chap 16
BLS
Date of supply Invoice
number
GST Consideration
(Including GST) $
30 September 2014
31 October 2014
30 November 2014
29 December 2014
12 January 2015
15 February 2015
23006
25900
27500
28700
31700
33560
Taxable
Zero-rated
Taxable
Taxable
Taxable
Taxable
1,605
2,000
2,354
4,280
3,638
2,140
F6 – Chap 16
DD Distributor Pte Ltd
GST Returns For the Quarter Ended 30 September 2015
Type of
Supply
Taxable
amount
Input
GST
Output
GST
$ $ $
Sales to employees
Export sales
Local sales
Local purchases from
- GST traders
- non-GST traders
Imports
Realised foreign exchange loss
Rebate granted to customers
Rental of office
Shipping charges for exports
Reimbursement entertaining clients
Donation
Cost & running expense -motor car
Public liability insurance
- medical coverage portion
- non-medical coverage portion
Net GST Payable
F6 (SGP) CHAPTER 16 - GOODS & SERVICES TAX (GST)
(DECEMBER 2016 EXAM)
©Yvonne Goh (2016) 298
MCQ 1
Rigley Instruments Pte Ltd (RIPL), is a GST-registered wholesaler of musical
instruments. It sold 10 pianos to its retail Singapore subsidiary Ringo Music Pte Ltd
(RMPL) at a price of $10,000 each although the price charged to other external
customers is $12,000.
Assuming that RMPL is not GST-registered, calculate the amount of GST
charged by RIPL for the 10 pianos.
(a)$8,400
(b)$7,000
(c)$0
(d)Exempt
MCQ 2
Yong Meng Enterprises (YME), a GST-registered company purchased a handcrafted
glass sculpture from a freelance artist who makes such art pieces out of interest once
or twice a year. YME paid $500 for this sculpture although the market value of a
similar glass sculpture is $800. The sculpture was then given to YME’s major customer
TT Enterprises.
Calculate the amount of GST that YME needs to charge (if any)?
(a)$Nil (not applicable)
(b)$0 (zero-rated)
(c)$35
(d)$56
F6 (SGP) CHAPTER 16 - GOODS & SERVICES TAX (GST)
(DECEMBER 2016 EXAM)
©Yvonne Goh (2016) 299
MCQ 3 (Specimen Paper MCQ 8)
For the quarter ended 30 September 2015, Accommodating Pte Ltd received a tax
invoice dated 30 September 2015 from Car Pte Ltd. Details of the tax invoice were
as follows:
Cost ($)
Rental of a private motor car
Petrol cost for the private motor car
Chauffeur services
Add: goods and services tax at 7%
Total billed amount
6,000
1,000
3,000
10,000
700
10,700
The private motor car was used solely by the managing director.
How much input goods and services tax can Accommodating Pte Ltd claim
for the quarter ended 30 September 2015?
(a)$700
(b)$210
(c)$420
(d)$280
MCQ 4 (Specimen Paper MCQ 11)
On 31 March 2015, Advance Limited entered into a contract with Loyal Limited. The
terms of the contract are as follows:
– The stocks will be supplied on the 15th day of the month. The first batch was
delivered on 15 April 2015.
– The invoice will be raised on the 1st day of the following month. The first invoice
was raised on 1 May 2015.
– Loyal Limited has agreed to settle the invoice within 30 days upon receipt. The
first payment was made on 1 June 2015.
What is the time of supply for the stock delivered on 15 April 2015?
(a)31 March 2015
(b)15 April 2015
(c)1 May 2015
(d)1 June 2015
Revision Course
Day
10 Nov (Thurs) 10.00am - 5.00 pm
11 Nov (Fri) 10.00am - 5.00 pm
14 Nov (Mon) 10.00am - 5.00 pm
Eve
30 Oct (Sun) 10.00am - 5.00 pm
31 Oct (Mon) 6.45 pm - 9.45 pm
01 Nov (Tues) 6.45 pm - 9.45 pm
02 Nov (Wed) 6.45 pm - 9.45 pm
03 Nov (Thurs) 6.45 pm - 9.45 pm
Congratulations!
You have graduated from F6 (SGP)
All the best for your exams!
