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Not sure if you are required to register for GST?<\/strong> Check the guides here:<\/p>\n <\/p>\n When a company fails to comply and misses the deadline for filing business GST returns, IRAS may take the following actions:<\/p>\n When a Notice of Assessment<\/strong> is received, businesses must urgently file their GST returns and declare their GST liability amount. Otherwise, the NOA cannot be revised. If sole proprietors or businesses fail to pay the late fee or file their GST returns online, they may be summoned to court.<\/p>\n Companies will still have to file all outstanding GST returns. In case they fail to do so, further prosecution actions will be taken against them. If they are unable to file timely GST returns, pay summons fees at least a week before the court date, or attend the court hearing, they may face even more serious consequences such as being issued with an arrest warrant.<\/p>\n <\/p>\n Businesses that fail to file their GST returns before the due date must pay a $200<\/strong> late submission fee. It is best to settle this amount promptly, as an additional $200 will be added for every additional month as the GST filing remains outstanding. The penalty can keep increasing until the maximum limit for outstanding return of $10,000 is reached.<\/p>\n <\/p>\n <\/p>\n Companies can simply use their IRAS pin or SingPass on the myTax Portal<\/a> on the IRAS website to view any current or past GST accounting periods. The same online portal can also be used to file GST returns.<\/p>\n <\/p>\n Trust Timcole with your GST filing.<\/strong><\/p>\n Timcole has years of experience assisting SMEs with their backend accounting. From bookkeeping<\/a> to GST filing services<\/a>, our team of experienced accountants can have them all covered. Contact us to learn more.<\/p>\n <\/p>\n Xero<\/strong><\/a> is a cloud accounting software<\/a> that can help you save both time and money. The platform is easy to use and even small business owners with little accounting experience can use it to do their own bookkeeping and filing.<\/p>\n Timcole is a Xero Platinum Partner<\/strong> and Certified Reseller of Xero Software<\/strong>. Also, as one of the few pre-approved IMDA Digital Solution Vendor for PSG funding, SMEs owners in Singapore can get 80% government subsidy<\/strong>\u00a0when purchasing Xero accounting software through Timcole. Click here to learn more.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Did you file your GST returns yet? If not, file your GST returns as soon as possible. GST-registered Companies in Singapore All GST-registered companies must file their GST returns. Otherwise, a strict penalty may be imposed on them. In Singapore, GST-registered businesses are required to submit their GST returns and pay the due amount…<\/p>\n","protected":false},"author":1,"featured_media":4965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[54],"tags":[],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/posts\/4958"}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/comments?post=4958"}],"version-history":[{"count":5,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/posts\/4958\/revisions"}],"predecessor-version":[{"id":5527,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/posts\/4958\/revisions\/5527"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/media\/4965"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/media?parent=4958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/categories?post=4958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wp-json\/wp\/v2\/tags?post=4958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Types of Penalty Actions<\/h2>\n
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Penalty Amount for Late GST Submission<\/h2>\n
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Avoid paying fines by planning your corporate tax properly.<\/strong> Check out these helpful guides:<\/p>\n\n
Filing Outstanding Documents<\/h2>\n
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<\/a><\/p>\n![\"\"](\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/wordpress\/wp-content\/uploads\/2018\/12\/1024px-Xero_software_logo.svg_-150x150.png\"){kind=logo}
Do your own accounting the easy way.<\/strong><\/p>\n