GST is tax levied on the import of goods, as well as nearly all supplies of goods and services in Singapore. The only exemptions are for the sales of residential properties and most financial services. Exports of goods and international services are zero-rated. In some countries, GST is known as VAT, Value Added Tax.
It is a mandatory requirement for companies with S$1 million turnover to be GST registered. However, you may apply for voluntary GST Registration even if you are currently not liable for GST Registration. The advantage of registering for GST is that you can enjoy the benefits of claiming input tax incurred in the course of your business. This is especially so when you make purely zero-rated supplies (exports or international services)
|GST Computation and Filing||*200 per quarter|
|GST Audit Queries by Tax Authorities||100 - 300|