| (a) | Failure to apply the domestic reverse charge on supplies of valuable metal will result in the supplier and recipient, being registered vendors, being held jointly and severally liable for any VAT loss suffered by the fiscus in this regard: Provided that this provision will not be applicable to the supplier of valuable metal where the supplier, being a registered vendor satisfies the Commissioner that it has taken reasonable steps to comply with its obligation under these Regulations, including verifying the recipient vendor's VAT registration status and issuing, obtaining and maintaining the required records and statements of compliance from the recipient vendor. |
