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What will be value of imports for GST purposes?


Exception to few goods not subject to GST, while you import goods in Australia, GST is charged at 10% of the value of the imported product. The value will be:

- Customs value of the goods

- if any customs duty payable

- International freight

- Insurance

- if any wine equalization tax

i.e. FOB + Freight + Insurance + if any WET


When do you pay GST?

GST is payable before the goods are released by Customs. If you are an importer, you pay the GST at the same time and place like you pay customs duty.


Can you defer paying GST?

Not everybody aware of this provision. Yes, you can defer paying GST until you sold the goods for home consumption or in trade. There are specific procedures to be followed to defer paying GST. Importers who are involved with substantial amount of GST, you should opt for this opportunity and you can improve on your cash flow and liquidity of your funds.

* Please contact us to know in detail how to defer paying GST upon importation.


What evidence is required?

You being in to business must be knowing that Australian Taxation Office believe only in Tax Invoice or Invoices. And hence invoices are always the basis for claiming any GST or expenses to your business. However when it comes to claiming GST upon importation, you need some specific documents generated during the process of  Customs clearance to support your claim. These are calls Import Declaration N10 (importer) and N30 (out of warehouse).


There are further many of the important things you need to know while you are into importation. Please contact us to ease your import taxation requirements.




* Source: Australian Taxation Office