Australia : GST deferral scheme for importers - an opportunity to relieve cashflow constraints

GST-registered importers can apply to defer payment of GST on their taxable importations from the time of importation until the 21st day of the following month. The GST liability can then be offset with any available input tax credits for the month. GST on taxable importations Ordinarily, GST is payable on taxable importations at the same time as customs duty. An importer’s liability for GST gener…