GST Services Singapore

We are Accredited Tax Practitioners (GST) registered with Singapore Institute of Accredited Tax Professional (SIATP). Our GST services Singapore include:

Register GST

Why Choose Our GST Services?

One-stop Solution
Having all services done at AG, enables reducing process, time and cost.
Quality
Our GST team is led by qualified accountants to ensure your compliance with GST rules.
Free GST Submission
GST submission is free when you engage our bookkeeping service.
Served By Experts
Our experts are familiar with what is claimable and what is not deductible. Let us maximise your GST benefits.

Pricing

Fee
GST registration                                                    S$500
GST submissionIncluded in our bookkeeping service

What You Need To Know About GST

GST Highlight

(1) Input tax of private expenses, S-plated car related expenses is not claimable.

(2) Supplies can be grouped into 7% taxable supplies, 0% taxable supplies, exempted supplies and out-of-scope.

(3) Goods & services supplied in Singapore but consumed out of Singapore, are treated as 0% taxable supplies.

(4) For certain industries, special GST schemes are available to ease their business operation and cashflow. For example, Major Export Scheme for major exporter, GST Margin Scheme/Discounted  Sale Price Scheme for motor trade.

(5) Input tax incurred before GST registration is claimable if claiming conditions are met.

(6) For voluntary GST registration, GST-registered status must remain for 2 years.

Singapore GST Regime

Goods and Services Tax (GST) is a consumption tax levied on goods or services consumed in Singapore. In other countries, GST is known as the Value-Added Tax (VAT).

GST prevailing rate in Singapore is 7%.

GST Registration

GST registration can be grouped into compulsory registration and voluntary registration.

 

Compulsory. A business must register for GST when:

  • Your taxable turnover for the past 12 months is more than $1 million; or
  • You can reasonably expect your taxable turnover in the next 12 months to be more than S$1 million.

 

Voluntary. Even without S$ 1 million, a business can still register for GST subject to approval by IRAS.

GST-registered Business

GST-registered business must charge GST on taxable supplies and can claim input tax if claiming conditions are met. Input tax of private expenses is not claimable.

GST Submission

GST-registered business must submit GST to IRAS one month after the end of each prescribed accounting period. This is usually done on a quarterly basis.

Find It Too Complex?
AG loves dealing with GST.

Q&A

Can I claim GST if I am not GST registered?

You are not allowed to claim if you are not GST registered. You need to absorb the input GST as your cost.

 

What should I do if I have wrongfully charged/collected GST when I am not GST registered?

It is a serious offence, you are required to notify IRAS about this immediately in writing. Or you can appoint us to be your representative to liaise with IRAS to resolve this.

 

When should I account for output tax?

You are required to accounts for output tax at the earlier of when you issue invoice OR you receive payment.

 

How can I correct errors in my submitted GST F5?

As an administrative concession, you are allowed to adjust for the errors in your next GST F5 if you meet certain criteria. Otherwise, you can file GST F7 to correct the errors.

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