Can a company be exempted from GST registration even if its taxable turnover exceeds S$1 million?
Yes. A company may apply for exemption from GST registration if its supplies are wholly zero-rated, such as the export of goods or the provision of international services.
What is exemption from GST registration?
Exemption from GST registration allows eligible businesses with predominantly zero-rated supplies to remain unregistered for GST despite exceeding the compulsory GST registration threshold.
Why do companies apply for exemption from GST registration?
One common reason is that the compliance cost of filing GST returns may outweigh the amount of input tax that the company is able to claim from IRAS.
