Goods & Services (GST) Registration & Submission

GST (Goods and Services Tax) is a consumption-based tax applied by the Singapore authorities on the import goods and supply of goods and services in the country. From time to time, businesses operating in Singapore need to make sure whether they need to opt for GST Singapore registration or not. They need to assess the situation by hiring a firm that specializes in GST registration.

Compulsory Singapore GST Registration

The prevalent regulations hold the businesses liable for the GST registration Singapore if their taxable turnover for the past 12 months is more than S$1 million. The business owners also liable for the Singapore GST registration if they expect their taxable turnover to be more than $1 million for the next 12 months.

The evaluation of their signed contracts, quotations accepted by customers, confirmed purchase orders, invoices to customers helps them in taking the decision. In both the cases described above, it is compulsory for them to go for GST registration Singapore.

Voluntary GST Registration Singapore

A business failing to achieve above criteria can still choose to go for a voluntary GST registration Singapore. However, it can only do so if it makes taxable supplies, out-of-scope supplies, or exempt supplies of financial services (international services).

After voluntarily registering for the GST Singapore, the businesses are allowed to claim the GST (input tax) they paid for their purchases from their suppliers. However, the business, as per the regulations, must maintain its registration for at least two years and safe keep the records for at least five years.

GST Submission Singapore

After the GST registration, the businesses are expected to file their GST return (GST F5) with the Inland Revenue Authority of Singapore (IRAS). The majority of them follow quarterly GST return filing.

The GST Singapore returns must include the value of their sale of goods & services, export, purchases from GST-registered suppliers, GST collected and GST claimed for that particular accounting cycle, etc. They need to contentiously follow the GST submission Singapore and payment due dates. Even when they have no tax to pay, they need to file ‘Nil’ return. GST filing Singapore can be a cumbersome task. A progressive business owner can hire an expert corporate services provider firm to take care of it.


Exemption from GST Registration

Singapore businesses can get an exemption from GST registration Singapore even when its taxable turnover is more than S$1 million. IRAS allows concession only to the businesses dealing in Zero-rated supplies that account for more than 90% of their turnover.

Cancellation of GST Registration

The businesses can cancel their GST registration Singapore if they have stopped making taxable supplies or when they are ceased or winded-up. They can also take this step when their taxable turnover falls bellow the threshold amount of S$1 million and are not expected to rise. They need to apply to the IRAS for the voluntary cancellation of GST Singapore.

How does GST work?


How does GST affect your businesses in Singapore?

All GST registered entities in Singapore are required to collect the 7% GST from the customers and pay the collected GST to the Singapore tax authorities on a quarterly basis.

These are the due date for filing and payment of GST collected to IRAS.

GST Filing Due Dates For GST Registered Businesses