With a compact footprint and support for smaller paper widths, the TUP500 is a welcomed addition to Star Micronics’ kiosk printer line to provide solutions to a great range of applications.
The TUP500 features an industry leading print speed of up to 220 mm/sec and a high reliability at an MCBF of 60 Million Lines. The innovative looping presenter prevents paper jams by printing the receipt in full before providing it to the user. The Presenter also uses Star Micronics’ document capture technology to retract receipts left by the user, resulting in increased document security and a cleaner operation area.
The TUP500 kiosk printer is ideal for a wide range of applications including public information kiosks, gaming, lottery, web kiosks, and much more.
In Budget 2022, the Minister for Finance announced that the GST rate will be increased from:
• 7% to 8%, with effect from 1 Jan 2023; and
• 8% to 9%, with effect from 1 Jan 2024.
Following this, we wish to inform you that Spartan System (S) Pte Ltd will be charging Goods and Services Tax (GST) as per the guidance below.
GST Rate Change
The GST rate chargeable will be the prevailing rate at the time of supply. The time of supply will be the earlier of:
• when an invoice in respect of the supply is issued; or
• when a payment in respect of the supply is received under Sections 11, 11A, 11B and 11C of the GST Act.
If the supply takes place GST applicable
Before 1 Jan 2023 7%
Between 1 Jan to 31 Dec 2023 8%
On/after 1 Jan 2024 9%
Transitional Rule for Rate Change
IRAS has provided an e-tax guide that explains the general transitional rules applicable to transactions spanning the rate change. In summary:
Transitional rules apply to supplies that span the rate change date which may affect the GST rate chargeable. A supply spans a GST rate change when one or more of the following events take place wholly or partially on or after 1 Jan 2023:
(i) the issuance of invoice;
(ii) the receipt of payment; and/or
(iii) performance of services (in the context of insurance business, this is interpreted as policy period of insurance.)
For supplies spanning the rate change date, the transitional rules will apply to determine the GST rate chargeable on the supply as per summary below:
Invoice issued date Period of Insurance (POI) Payment before 1 Jan 2023 Payment on/after 1 Jan 2023
Before 1 Jan 2023 2022 2022 7% 7%
2022 2023 7% (for POI in 2022) or 8% (for POI in 2023)
2023 2023 8%
On/after 1 Jan 2023 2022 2022
If full payment is received or the supply is fully performed before 1 Jan 2023, the supply is subject to 7% GST. In all other circumstances, part or full value of the supply will have to be adjusted to 8% GST. A credit note will be issued for the initial invoice charged at 7% and a new tax invoice will be issued for applicable revised GST rate based on the transition rules from IRAS.