A checklist for the 2023 transition
The source is version 5 August 2022, prepared for the 2023 GST rate change. It says the same checklist appears in Annex C of the relevant guide for GST-registered businesses. Read it as a historical transition-readiness checklist, rather than an announcement of a new future rate change.
Both accounting and point-of-sale systems
The first two checks concern updating accounting and invoicing systems, and updating cash-register and receipting systems for point-of-sale billing. Checking only the central ledger leaves retail receipts and tills untested. Confirm that the intended rate flows through invoices, sales receipts and the corresponding accounting records.
Prices and staff training
Check compliance with price-display requirements in the 2023 guide. Train staff to apply the transitional rules and the correct rate to sales transactions and reverse-charge supplies spanning the change date. A system update alone does not resolve a transaction that falls across the transition.
Contracts and customer communications
Review contracts and agreements to identify the GST rate charged and which party bears it. Inform customers about the increase. The source suggests stating in advertisements, websites or brochures that the rate prevailing at the time of supply will apply. That communication example does not replace checking the applicable transition rules or contractual allocation.
Import/export businesses and the scheme option
The final check is whether to consider applying for the Major Exporter Scheme where the business deals mainly in imports and exports, with reference to that scheme’s detailed guide. “Consider applying” does not mean automatic approval or a mandatory application. Together these sections cover all seven checkboxes in the original.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗