Did you know the difference between zero-rated supplies & exempt supplies?
Zero-rated supplies are supplies subject to GST at 0%, while exempt supplies are supplies where GST is not chargeable.
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Did you know businesses should drop cents, not round, in the GST return?
Goods exported from Singapore without a corresponding sale at the time of export may still need to be reported in the GST return.
Did you know staff secondment can be considered as a GST supply?
Goods exported from Singapore without a corresponding sale at the time of export may still need to be reported in the GST return.
Did you know you may need to account for GST on the ‘donations’ received?
Where goods or services are provided to the donor in exchange for the donation
Did you know the invoicing requirements if you choose to absorb GST?
Where a business chooses to absorb the GST payable by its customer, the amount charged to the customer should generally be treated as GST-inclusive.
Did you know exports without sales must be reported in the GST return?
Goods exported from Singapore without a corresponding sale at the time of export may still need to be reported in the GST return.
Did you know that distributing free samples may cost you more than expect?
If the prescribed conditions are not satisfied, the distribution of free samples may be treated as a deemed supply and output.
Did you know price displays must include GST to show consumer final price?
GST-inclusive price must be displayed at least as prominently as the GST-exclusive price.
Did you know that a valid tax invoice isn’t always required?
The tax invoice should generally be issued within 30 days from the time of supply.
Did you know you can charge GST on 50% of the price for certain sales?
The Discounted Sale Price Scheme is a GST concession that allows businesses selling used motor vehicles to account for GST on only 50% of the selling price.