Guard yourself against non-compliance and easily generate necessary GST submission IRAS Audit File and GST F5 forms ready to be submitted within a few clicks. Listed in IRAS' Accounting Software Register, this app tracks all your required GST data and automates GST calculations from sales & purchasing documents.
MICROSOFT DYNAMICS 365 BUSINESS CENTRAL 16 & LATER
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Minimize non-compliance from missing data and save time tracking back lost information.
Both files are based on IRAS compliant templates.
The Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs [ICA] and overseen by Inland Revenue Authority of Singapore [IRAS]), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.
Businesses in Singapore must be GST registered if their taxable annual turnover exceeds SGD 1 Million. Other businesses may consider voluntary registration. However, they must be registered to charge or claim GST.
GST Exempt refers to good and services that have been categorized by ICA as being non-taxable or exempted from GST.
GST exemptions generally apply to the provision of most financial services, the supply of digital payment tokens, the sale and lease of residential properties, and the importation and local supply of investment precious metals.
Important to note: This is different from zero-rated GST products/services.
Under the January 2020 changes to the GST Act, the ICA introduced zero-rated GST for certain categories of services and supplies. This means that while these are taxable, the rate at which they are taxed is 0%.
Generally, these services and supplies are zero-rated:
As policies are subject to change, please refer to this official link for the most accurate information.
This SG GST Extension will allow users to process the GST more accurately, compliant with legal requirements, when creating transactions for the purpose of generating the GST F5 report.
Yes, the extension comes with table of GST Identifiers that users can use to maintain, modify or update the latest GST Code.
Yes, it can be printed out from the system.
Yes, it can be generated within the system.
Yes, the app has been verified by IRAS and is listed in IRAS’s Accounting Software Register.
Reference: IRAS Accounting Software Register
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