![\"How](\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2024\/08\/photo-how-to-avoid-common-gst-errors-in-singapore-400x300-1.jpg\" "\\"How")
Don\u2019t know how to file GST returns in Singapore? Want to make sure you\u2019re filing your returns the right way? You\u2019re at the right place. This blog post we\u2019ll let you know what common GST errors you should avoid when filing GST returns. Discover the 6 GST filing mistakes<\/a> that trigger IRAS queries in 2026 to stay compliant. in Singapore. Goods and Services Tax also known as GST is one of the major contributors to tax incomes in Singapore. So the government of Singapore takes it very seriously and imposes heavy penalties for not filing a correct GST return. Let\u2019s find out what you should consider when submitting your GST returns:<\/p>\n<\/p>\n
Input Tax Claims Must Be Supported With Valid Documents<\/h3>\n
Before you make input tax claims, make sure you meet all the conditions and have valid documents supporting your claims. If you had under-declared or over-declared the worth of your imported goods, you may need to make changes in your returns and inform Singapore customs.<\/p>\n
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Know When Input Tax Needs to Be Apportioned<\/h3>\n
GST registered businesses making exempt supplies (e.g. sale and lease of residential properties, financial services) should be aware of the thresholds on exempt supplies under the De Minimis Rule. When the De Minimis Rule is satisfied, you may claim all input tax incurred as per normal. When the De Minimis rule is not satisfied, you\u2019re not allowed to claim input tax directly attributable to the making of exempt supplies. For input tax that cannot be identified as directly attributable to either taxable or exempt supplies (residual input tax), the amount that can be claimed has to be apportioned accordingly.<\/p>\n
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Do Not Claim Disallowed Input Tax<\/h3>\n
GST Regulations (namely regulations 26 & 27) don\u2019t allow the following expenditures to be claimed as Input Tax:<\/p>\n
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- Advantages provided to the relatives and family members your staff<\/li>\n
- Costs & running expenditures incurred on motor vehicles that are either registered under individual\u2019s or business\u2019s name, or hired for private or business use.<\/li>\n
- Subscription fees charged by recreation and sports clubs<\/li>\n
- Medical expenditures for your staff unless they\u2019re mandatory under \u2018\u2019Work Injury Compensation Act<\/a>.\u2019\u2019<\/li>\n
- Any deal involving, sweepstakes, lotteries, betting, games of chance or fruit machines.<\/li>\n<\/ul>\n
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Claim Input Tax Accurately in the Right Period<\/h3>\n
Your input tax claim should be in the accounting period that corresponds to the date mentioned in the import permit or tax invoice. There\u2019s no point in making a claim in a period that doesn\u2019t match the required date.<\/p>\n
If this is your first time filing GST returns in Singapore and you don\u2019t know much about it, it\u2019s highly advised that you hire a professional tax preparation company to stay on the safe side.<\/p>\n
- Any deal involving, sweepstakes, lotteries, betting, games of chance or fruit machines.<\/li>\n<\/ul>\n