GST is a tax on goods and services purchased or consumed locally. Here is a quick overview of GST and how it affects your business. It is not meant to be an in-depth guide on GST.
What Is GST?
What Happens When The GST Rate Changes?
What Goods And Services Are Subject To GST?
When Do I Pay GST?
When Do I Collect GST?
Are There Any GST Schemes To Help Businesses?
Where Can I Download GST Guides?
Where Can I Get Help?
What Is GST?
- Goods and Services Tax (GST) is a tax charged on the supply of goods and services made in Singapore and on the importation of goods into Singapore.
- The current rate is 7%.
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What Happens When The GST Rate Changes?
- You will need to know exactly when to change the new rate. This will depend on the date you:
- invoiced your customer
- delievered the goods or performed the service
- received the payment
- If you need help understanding when to charge the new rate, please download the:
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What Goods And Services Are Subject To GST?
- All goods and services are taxable and known as taxable supplies.
- However, some items are specifically exempt from GST by law. Exempted items include financial services and the sale or lease of residential properties.
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When Do I Pay GST?
- You have to pay GST when you buy goods or services from GST-registered businesses and when you import goods into Singapore. For imports, GST is paid to Singapore Customs.
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When Do I Collect GST?
You can collect GST if you register with the Comptroller of GST to collect GST.
When Is It Compulsory To Register?
- Your business must be registered to collect GST if your annual turnover exceeds or is likely to exceed S$1 million from the sale of taxable goods and services.
- You can apply for exemption from GST registration if most of your goods or services are exported or supplied internationally ("zero-rated supplies").
Can I Choose To Register?
- You may also apply to the Comptroller of GST to c