If your business operates in Singapore, you’re likely already familiar with the Goods and Services Tax (GST) — a broad-based consumption tax on most goods and services.

But for many small and medium-sized enterprises (SMEs), the biggest question remains: When must I register? What happens after I’m GST-registered? And how do I stay compliant without adding complexity to daily operations?

This 2025 guide covers the latest GST turnover thresholds, filing deadlines, and compliance duties, so you can prepare proactively — and stay on the right side of both IRAS and your customers.

1. GST in Singapore — The Basics

GST (known in many countries as VAT) is administered by the Inland Revenue Authority of Singapore (IRAS).
As of January 2024, the GST rate stands at 9%, applying to:

• Most goods and services supplied in Singapore; and
• Imports of goods and selected digital or non-digital services from overseas suppliers.

Businesses that meet or expect to meet the turnover threshold must register for GST, charge it on sales, and remit the tax to IRAS.

2. GST Registration Thresholds in 2025

Singapore mandates GST registration under two main rules: retrospective and prospective.

a. Retrospective Basis

You must register if your past 12-month taxable turnover exceeds S$1 million.
This includes:

• Standard-rated and zero-rated supplies (export sales included), but
• Excludes exempt and out-of-scope supplies (e.g., residential rent, financial services).

Once this threshold is crossed, you must apply for GST registration within 30 days.

b. Prospective Basis

You must also register if you can reasonably expect your taxable turnover to exceed S$1 million in the next 12 months — for example, due to signed contracts or upcoming expansion.

💡 Tip: If your business turnover is close to the S$1 million mark, it’s smart to start tracking it monthly using a digital accounting tool like ccMonet. The system’s real-time analytics can alert you when you approach GST registration thresholds.

3. Voluntary GST Registration

Even if your turnover is below S$1 million, you may register voluntarily if:

• You make or plan to make taxable supplies; or
• You import goods and wish to claim input tax credits.

However, once voluntarily registered, you must:

• Stay registered for at least two years, and
• Comply fully with all GST filing and record-keeping obligations.

Voluntary registration can be advantageous if you deal mostly with GST-registered suppliers or B2B clients, as you can claim input tax refunds on purchases.

4. After You Register: Key Ongoing Duties

Being GST-registered isn’t just about collecting tax — it comes with ongoing compliance responsibilities.

a. Charging and Collecting GST

You must:

• Charge 9% GST on all standard-rated sales.
• Display your GST-inclusive prices clearly to customers.
• Issue tax invoices containing mandatory details like UEN, invoice date, and GST amount.

b. Filing GST Returns

• File GST F5 returns quarterly (within one month after each accounting period).
• Report both output tax (GST collected on sales) and input tax (GST paid on purchases).
• Pay any net GST due by the same deadline.

c. Record-Keeping

IRAS requires GST-registered businesses to maintain full supporting documents for at least five years, including:

• Invoices, receipts, import/export permits, and accounting ledgers.
• Evidence supporting input tax claims.
• Contracts and purchase orders.

This aligns with ACRA’s statutory record-retention rules. Digital storage solutions like ccMonet help automate this — scanning, tagging, and storing each record for future reference.

5. Deregistration and De-registration Conditions

You may cancel your GST registration if:

• Your business ceases operations; or
• Your annual taxable turnover falls below S$1 million and is expected to remain below that level.

You must apply for deregistration within 30 days of cessation or eligibility, and continue to file returns until IRAS approval is granted.

6. Penalties for Late Registration or Non-Compliance

Missing your GST registration or filing deadlines can be costly:

• Late Registration Penalty:
  Fine up to S$10,000, plus a 10% surcharge on GST due from the date you were liable to register.
• Late Filing or Payment:
  Late GST F5 submissions incur fines and 5% late payment penalties.
• Incorrect Returns:
  Errors or omissions can attract fines of up to 200% of tax undercharged, depending on intent.

Automation and digital oversight significantly reduce these risks — ensuring filings are timely, consistent, and backed by verifiable data.

7. How ccMonet Helps SMEs Stay GST-Ready

Managing GST manually can feel complex, but ccMonet makes it simple.

With ccMonet, SMEs can:

• Track turnover in real time across multiple currencies and branches.
• Detect when GST thresholds are approaching.
• Automatically categorize taxable vs. exempt supplies.
• Generate reports aligned with IRAS requirements.
• Store invoices and records securely for five years (audit-ready).
• Get human expert review on filings to ensure compliance accuracy.

By integrating AI bookkeeping and human expertise, ccMonet helps SMEs stay compliant from day one — with less effort, zero guesswork.

8. Quick Recap

• Registration threshold: S$1 million in taxable turnover.
• Application deadline: Within 30 days of exceeding or expecting to exceed threshold.
• GST rate (2025): 9%.
• Return filing: Quarterly, within one month after each period.
• Record retention: 5 years minimum.
• Common penalties: Late registration, inaccurate returns, or missing deadlines.

Conclusion

GST registration isn’t just a formality — it’s a core compliance requirement that shapes how your business manages revenue, pricing, and reporting.

By tracking your turnover accurately and automating compliance processes, you can avoid penalties and strengthen your business credibility.

👉 Stay ahead of every GST deadline with ccMonet — your all-in-one AI accounting and compliance platform for Singapore SMEs.

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