Effective date of operation being 30 March 2015
(with exceptions of Regulations 3, 4, 5 and 6 in GOODS AND SERVICES TAX (AMENDMENT) REGULATIONS 2015 which comes into operation on 1 April 2015).[br]
Here is why it is so important :
“Gazette” is a legal process where the official documents come into force. Gazetting of the amended list of standard and exempted supply items dictates which industry will be regarded as mixed supply and which will be purely standard rated and zero rated.
With effective date of operation being 30 March 2015 businesses are expected to update your GST transaction code accordingly as of yesterday. The file is the form of a pdf, do “search” for the keywords of your product/ services / industry whether it falls within the enlarged list of zero rated, exempted and relief list.