What is the penalty for the late registration of GST?
If you are late in registering for GST, you will be guilty of an offence and be liable on conviction to a fine up to S$10,000 and to a penalty equal to 10% of the tax due in respect of each year commencing from the date on which you are required to make the notification [...]
If I am liable to register, can I choose the date that I want to commence registration?
Once you are liable to register, you are required to inform the Comptroller for GST within 30 days from the date your liability arises. The Comptroller will register you within the next 30 days. You can be registered earlier than this date (subject to the Comptroller’s approval).
What is an Exempt Supply?
There are 2 broad categories of exempt supply. They include the sale and lease of residential properties and financial services specified in paragraph 1 of the Fourth Schedule to the GST Act. GST will not be charged on the exempt supply. Generally, any GST incurred in making exempt supplies cannot be claimed as input tax.
What is GST?
Goods and Services Tax (GST) is a tax on the supply of goods and services made in Singapore by a taxable person in the course or furtherance of any business carried on by him and on the importation of goods into Singapore.
Does Singapore have any value added tax or general sales tax?
Yes. The sales tax in Singapore is called Goods and Services Tax (GST). The current GST rate is 7%. Only GST-registered businesses are allowed to levy the GST on their sales or invoices.
