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Charging and Claiming GST

Only GST-registered businesses may charge and claim GST from their Effective Date of GST Registration.
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Charging GST

Non-GST registered businesses are not allowed to charge GST.

Only GST-registered businesses are allowed to charge and collect GST on the goods and services they provide.

Wrongfully Charging GST

If you have wrongfully charged/collected GST from your customers, you must remit to IRAS the GST wrongly collected .

Exception to the Rule

An exception is when you are a non-GST registered third party (e.g. mortgagee, financier, auctioneer) that sells or rents out a GST-registered business' asset in satisfaction of debt owed.

For details on how to account for GST, please refer to Selling/renting out asset in satisfaction of debt .

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Claiming GST

Non-GST registered businesses are not allowed to claim GST incurred on purchases and expenses.

Only GST-registered businesses are allowed to claim GST.

Exceptions to the Rule

Non-GST registered businesses in specific industries are given concessions (subject to conditions) by the Minister to claim the GST incurred.

  1. Qualifying funds that are managed by a prescribed fund manager in Singapore are allowed to claim GST incurred on prescribed expenses at an annual fixed recovery rate via remission.

    Details of the GST remission (such as the types of qualifying funds, qualifying conditions, prescribed list of expenses and procedures to claim GST) are explained in the circular issued by the Monetary Authority of Singapore (MAS).
  2. Real Estate Investment Trusts and qualifying Registered Business Trusts listed on the Singapore Exchange (i.e. S-REITs and qualifying S-RBTs) are allowed to claim GST on expenses incurred for their business and their Special Purpose Vehicles (SPVs)

    This GST concession applies regardless of whether the S-REIT or S-RBT is eligible for GST registration.

    For details, please refer to GST: Concession for REITS and Qualifying Registered Business Trusts Listed in Singapore (962KB)

To claim the GST incurred, qualifying funds, S-REITs and S-RBTs will have to submit a quarterly Statement of Claims to IRAS. Each Statement of Claims is due one month after the end of the respective quarters. As an administrative concession, funds and trusts may file their quarterly Statement of Claims after the due date, subject to the following conditions:

  1. The GST claims are made on tax invoices dated within the relevant quarter; and
  2. The quarterly Statements of Claims are filed within 5 years from the end of the relevant quarter.

Example:

Period of claims: 1 Apr 2012 to 30 Jun 2012

Qualifying funds, S-REITs and S-RBTs can submit the Statement of Claims latest by 30 Jun 2017.

 

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