GST Applications & Filing

Goods and Service Tax (GST) is a domestic consumption tax which is chargeable on supplies of goods and services made in Singapore. As a GST-registered merchant, you effectively act as a tax collecting agent in collecting the GST which you have charged on your local supplies of goods and services. Businesses are required to continually assess the need to be registered for GST.

In most cases, registering for GST is compulsory when:

  • the turnover of your business is more than $1 million for the past 12 months; or
  • You are currently making sales and you can reasonably expect the turnover of your business to be more than $1 million for the next 12 months.
  • Your combine sales for all your sole-proprietorship OR combines sales for all your partnership with the same composition of partners is more than $1 million

You can also choose to be voluntarily registered for GST; however approval is subjected to assessment by Inland Revenue Authority of Singapore (IRAS). A deposit may be required from the applicant if the Comptroller deems fit and the applicant is expected to attend a course to learn the basic knowledge of GST so that you can be in compliance with the GST law.

Advantages of GST Registration
  • Able to recover GST imposed on local purchases and imported goods (especially when you make purely zero-rated supplies on exports or international services )
  • Enhance company’s image as largely, only big firms are GST Registered
  • Subsidized(maximum of $1,500) on IRAS approved accounting software, as well as the cost of installation, deployment and training
Disadvantages of GST Registration
  • Remain registered for at least two years
  • Compliance costs include the cost of adjusting your accounting system, filing GST returns and keeping records for GST purposes
  • Penalties for non-compliance
  • Obligations and responsibilities as a GST collecting agent

Our Function
  • GST Application Service
  • GST computation
  • To ensure all claims and returns are true and accurate
  • To ensure all submissions are compliance with the regulations
  • Perform quarterly submission

Our Fees: GST Application Services

GST Filing (If accounts is not done by us) SGD $150.00
Per Quarter
GST Application (Free for our accounting clients)(1 time fee) SGD $100.00