Claiming Input Tax in the Right Accounting Period

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.

Claiming Input Tax According to Date on Tax Invoice or Import Permit

Before making an input tax claim, you need to obtain the tax invoice issued by your supplier or import permit and ensure that all conditions for claiming input tax are satisfied.

The input tax should be claimed in the accounting period corresponding to the date shown in the tax invoice or import permit.

You can claim for your purchases before your subsequent supply of goods or services. It is not necessary to match the input tax claim (for purchases) with output tax charged (for subsequent supply) in the same prescribed accounting period.

You imported a machine and will sell it to your customer two months later. You can claim the input tax in the accounting period which the machine was imported based on the import permit.

Claiming Input Tax According to Date of Posting/Processing

You may claim input tax based on the date that you post/process the tax invoice or import permit into your accounting system. However, you must comply with the following requirements:

  1. Your basis of claiming input tax based on the date of posting/processing of the suppliers' tax invoices or import permit into your accounting system is applied consistently for all your GST returns;
  2. You have the original tax invoices/import permits at the time of claiming; and
  3. There are internal controls in place to ensure that there is no double claiming of input tax.
  • I have received a tax invoice from my supplier, but I have not paid him. Can I claim the input tax?

    You can claim the input tax based on the date of the supplier's tax invoice as long as you satisfy the conditions for claiming input tax.

    However, if you subsequently do not pay your supplier within 12 months from the due date of payment, you are required to repay to the Comptroller the input tax that you have claimed.

    For more information, please refer to claiming GST before paying your supplier.

RATE THIS PAGE

  • Strongly Disagree
  • Strongly Agree

Information is easy to understand.

Information is useful.

Information is easy to find.

 
Please email us if you would like us to respond to your enquiries.