| (1) | If the Commissioner grants an application, the Commissioner must issue to the applicant an advance ruling, stating— |
| (a) | the title, number and date of the ruling; |
| (b) | the name of the recipient; |
| (c) | whether it is an advance tariff ruling, an advance valuation ruling or an advance origin ruling, and, if an advance valuation ruling, particulars of the valuation criterion to which it relates; |
| (d) | the class or kind of goods to which the ruling relates; |
| (e) | particulars of the transactions to which the ruling relates, including the names of the parties to these transactions; |
| (f) | particulars of the ruling made; |
| (g) | any assumptions made or conditions imposed by the Commissioner in connection with the application of the ruling; |
| (h) | the period for which the ruling will remain valid; and |
| (i) | any other relevant information. |
| (2) | An advance ruling applies subject to the provisions of the ruling, and only— |
| (a) | to goods of the class or kind specified in the ruling when entered by or on behalf of the recipient for a purpose in terms of this Act during the validity period of the ruling; and |
| (b) | in the case of an advance valuation ruling, to transactions between the parties specified in the ruling. |
[Chapter IXA(74E) inserted by section 17(1) of the Tax Administration Laws Amendment Act, 2022 (Act No. 16 of 2022), Notice No. 1542, GG47827, dated 5 January 2023 - comes into effect on a date to be determined by the Minister by notice in the Government Gazette (section 17(2))]
