Indirect Tax Laws Amendment (Assessment) Act 2012 (39 of 2012)

Schedule 1   Assessment of amounts under indirect tax laws

Part 1   Amendments commencing on 1 July 2012

Division 3   Other amendments

A New Tax System (Goods and Services Tax) Act 1999

87   Section 114-20

Repeal the section, substitute:

114-20 Payments of amounts of assessed GST where delivery into home consumption is authorised under section 71 of the Customs Act

(1) If:

(a) the delivery of goods into home consumption in accordance with an authorisation under section 71 of the Customs Act 1901 is an importation into Australia because of item 1, 2, 3 or 4 of the table in section 114-5; and

(b) information was provided under section 71 of that Act in connection with the granting of the authorisation;

any *assessed GST payable on the importation is to be paid when the information was provided/on or before the granting of the authorisation.

(2) This section has effect despite sections 33-15 (which is about payments of amounts of assessed GST on importations) and 114-15.