GST

GST InvoiceNow Requirement

In Apr 2024, IRAS announced the requirement for new voluntary GST-registered businesses to transmit invoice data to IRAS using InvoiceNow solutions via the InvoiceNow network (“GST InvoiceNow Requirement”). There are plans to progressively implement this requirement to all GST-registered businesses. Learn more here.

High Court and GST Board of Review dismiss two businesses’ appeals to overturn the Comptroller’s decision to deny their input tax claims

Two businesses failed in their appeals to the High Court and GST Board of Review against the Comptroller’s decision to deny their input tax claims, amounting to $1.4 million. Read the details of the cases, and find out how you can avoid being implicated in the Missing Trader here.

Buying or selling gold jewellery? The changes to the GST administrative concession for trade-in of gold jewellery will take effect from 1 Jan 2025

From 1 Jan 2025, the administrative concession for trade-in of gold jewellery applies only when the customer is not registered for GST at the time of supply. Learn more here.

Need to correct errors in past GST F5 submissions?

Made a mistake in your GST F5 return? Since 1 Jan 2024, the administrative concession threshold to adjust for errors in your next GST F5 return has been raised from $1,500 to $3,000. Learn if you are eligible

E-learning Video on GST rules for Social Service Agencies (SSAs) And Charities

 Social Service Agencies (SSAs) and Charities, do you know when to charge GST on funds received by your organisations and how this may affect input tax claims? Watch this e-learning video to understand GST rules and avoid common mistakes.

What consumers need to know with the new GST rate from 1 Jan 2024

GST will be increased from 8% to 9% from 1 Jan 2024. How will it impact you as a consumer?

Read on to find out what you need to know with the new GST rate.

Getting your business ready for the second GST rate change

From 1 Jan 2024, GST will increase from 8% to 9%. Are you ready for the second GST rate change? If you are a GST-registered business, read on to find out how to get your business ready.

Learn about GST treatment of travel arranging services with effect from 1 Jan 2023

Do you charge a fee for facilitating the booking of travel products? Learn about the GST treatment of travel arranging services for international transportation, accommodation and tour packages.

Beware of GST Missing Trader Fraud involving precious metals

If you are a jeweller, bullion trader or gold refiner, watch out for the GST Missing Trader Fraud involving precious metals. Learn how the GST fraud works and how to protect your business from being involved.

Sold or disposed of your business asset? Or gave away your business asset for free? Account for GST even when you did not receive any money for it.

Businesses that sell, transfer or dispose of assets may need to account for GST.

Giving away goods for free? GST may be accountable even when it is for your business purpose

Businesses that give away goods for free may need to account for GST even when it is for business purposes.

3 things you need to know as a consumer with the new GST rate

 GST will be increased from 7% to 8% from 1 Jan 2023. How will it impact you as a consumer?

 Read on for the 3 things to know with the new GST rate.

5 questions you may have when doing online shopping

 As announced in Budget 2021, from 1 Jan 2023, consumers in Singapore will need to pay 8% GST on the purchase of low-value goods (LVG) and non-digital services.

 We’re here to answer 5 questions you may have when buying goods and services online.

Getting Your Business Ready for GST Rate Change

The GST rate will be increased in two steps. The first rate change from 7% to 8% will take effect from 1 Jan 2023.  

Are you ready for the GST rate change?

Read on to find out how businesses can get ready for the first step.

GST on Imported Low-Value Goods and Remote Services

The Overseas Vendor Registration (“OVR”) regime was implemented from 1 Jan 2020 to impose GST on supplies of digital services to non-GST registered customers in Singapore. From 1 Jan 2023, the OVR regime will be extended to imported low-value goods and non-digital services.

Read more about how the extension of the OVR Regime impacts your business operations.

Changes in the GST Return

With the extension of GST to imports of low-value goods and non-digital services, there will be amended and additional boxes in the GST return from 1 Jan 2023.

Read on to find out more.

Does your business recover expenses from a third party?

To determine whether the recovery of expenses is subject to GST, you must first differentiate whether the recovery is a disbursement or reimbursement.

To learn more, click here.

Do you export goods? Avoid these common mistakes!

Businesses that are planning to zero-rate exports of goods must fulfil certain criteria.

To learn more, click here.

Running a business? Are you liable to register for GST and what happens if you register late?

Businesses are required to continually assess the need to be registered for GST and thus monitoring your business revenue is important as a self-check to know when you are liable to register for GST. Here are some pointers for you to note.

To learn more, click here.

What is unauthorised GST collection and what to do if you encounter it?

Businesses that are not registered for Goods and Services Tax (GST) are not allowed to charge and collect GST from their customers. It includes businesses that are in the process of registering for GST but the application has not yet been approved. Unauthorised collection of GST is a serious offence and offenders may face jail term and penalties. Find out what you can do if your business has wrongfully collected GST or paid GST to a non-GST registered business.

To learn more, click here.

Do you sell multi-redemption vouchers? How should you account for GST on multi-redemption vouchers?

Not sure how to account for Goods and Services Tax (GST) on multi-redemption vouchers (MRVs)? Read our handy guide to find out how you can do it correctly.

To learn more, click here.

Are you aware that input tax incurred on certain expenses is not claimable?

As part of running a business, you may have to pay Goods and Services Tax (GST) to suppliers for your business purchases and expenses, including the import of goods. You may be eligible to claim the GST incurred as input tax in your GST returns if you are GST-registered. However, input tax on certain expenses are not claimable. Read on to find out more.

To learn more, click here.

Using the GST Registration Calculator

Do you need to register for GST? Use the GST Registration Calculator to find out now.