Industry- Deferred GST on taxable imports

The Federal Government’s Deferred Goods And Services Tax (DGST) allows deferred payment of GST on all taxable imports into Australia.

As the Australian Government ATO website puts it, “As an importer, the deferred goods and services tax (DGST) scheme allows you to defer payment of GST on all taxable imports into Australia”. To break that down even further, the government is allowing all eligible Australian businesses that import cargo from overseas to pay the GST component of their shipments with the first Activity Statement lodgement after the shipment, instead of at the time of arrival of the goods in Australia.

AMTIL AMT Magazine June/July SternaGL explains Page 111 https://amtil.com.au/amt/

Additional information go to ; https://www.ato.gov.au/Business/GST/In-detail/Rules-for-specific-transactions/International-transactions/Deferred-GST/