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Can I claim GST (input tax)

 

  • When purchasing from GST-registered suppliers or importing goods into Singapore, you may have incurred GST (input tax). You can claim input tax incurred when you satisfy all of the conditions for making such a claim. You must make your claim during the accounting period that matches the date shown in the tax invoice or import permit.

  • You should claim input tax in the accounting period corresponding to the date shown in the tax invoice or import permit. Alternatively, you may claim input tax based on the date that you post/process the tax invoice or import permit into your accounting system if you satisfy the qualifying conditions.

  • If you had over-declared or under-declared the value of your imports, you may need to inform Singapore Customs and make adjustments in your GST returns.
  • Generally, input tax incurred in the making of exempt supplies is not claimable unless the De Minimis Rule is satisfied. The De Minimis Rule allows GST-registered businesses to claim input tax on exempt supplies.
  • GST registered businesses may claim GST incurred before registering for GST and also before incorporation provided certain conditions are met.

  • You must repay the input tax previously claimed  to the Comptroller if you do not pay your supplier within 12 months of the due date of payment. 

  • Assets (e.g. property, equipment) belonging to a GST registered mortgagor may be sold or rented out by the mortgagee in satisfaction of a debt.