Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), 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.

GST exemptions 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. Goods that are exported and international services are zero-rated.

Q:	Is my company exempted from GST registration?
A:	If a Company annual taxable turnover exceeds S$1 million, Company will be required to register for GST. However, Company may qualify for exemption from registration if meet both of these conditions: 1. The proportion of zero-rated supplies over total taxable supplies exceeds 90% Total taxable supplies refer to the summation of standard-rated supplies and zero-rated supplies, but exclude the following that have been reported as standard-rated supplies: (1) The value of relevant supplies received from supplier that were subject to customer accounting ; and (2) The value of imported services subject to reverse charge. 2. Company would have been in a net refundable position had Company been registered for GST Net refundable position refers to a situation where the output tax chargeable is less than the input tax claimable on imports and/or purchases from GST-registered suppliers.
Q:	Can Company claim GST incurred on business purchases?
A:	Upon approval of exemption, do not need to collect GST on sales and file GST returns. However, Company will not be able to claim the GST incurred on business purchases of goods and services.
Q:	How to apply for exemption?
A:	Please complete the form GST F2 "Application for Exemption from Registration" and submit it together with all the required documents stated in the form.
Q:	How if Company cease to quality for exemption?
A:	Upon approval of exemption, Company will have to continue to monitor transactions to ensure that Company continue to meet the conditions for exemption. If Company cease to qualify for exemption and still liable for registration, Company should notify Inland Revenue Authority of Singapore （IRAS） within 30 days.
Q:	How to notify IRAS?
A:	Send IRAS an email via myTax Mail with the following information: 1. Date when situation in (a) or (b) arose (“date of change”) 2. Following amounts for the previous 12 months up to and next 12 months from the date of change: (1) Value of standard-rated supplies; (2) Value of zero-rated supplies; (3) Net GST position had you been registered for GST; (4) Value of imported services (if you would not have been entitled to full input tax claims had you been registered for GST).