The ATO Thur 15.3.2011, issued for comment Draft Law Administration Practice Statement PS LA 3541 (GST classification of food and beverage items). The Draft applies to manufacturers and other suppliers that rely on GS1net and the GS1 Australia database to determine the GST classification of food and beverage items supplied.
The Draft outlines the procedures for tax officers to follow and matters to take into account when considering a change in the GST classification of food or beverage items listed on GS1net. It also sets out the administrative approach the ATO will take in relation to past years/periods where manufacturers and other suppliers have relied on the ATO confirmed GST classification on GS1net.
COMMENTS are due by 13 April 2012.
[LTN 51, 15/3]