GST Services

By: Accounting Solutions Singapore  14/11/2016
Keywords: Business Services, Tax Services, Accounting & Tax Services

Your company needs the assistance from a GST service firm for GST registration in Singapore. A local accounting firm, with a GST Service department, is familiar with GST Act and the registration process. Once you are a GST-Registered business in Singapore, you are required to file accurate GST returns and pay GST due on time. Other requirements are as follows: 1. Businesses must maintain proper accounting and business records for a minimum of five (5) years. 2. The tax invoices must reflect the business GST Registration number. 3. The tax invoices must display both GST-inclusive price and GST-exclusive price – at a noticeable area on the tax invoice. 5. For filing GST returns later or not filing, this is an offence with a fine up to SGD 5,000 and in default of payment, the incarceration term is up to a maximum of six months. 6. For paying later or not payable GST due, businesses may pay a penalty. 7. For submission of incorrect GST returns, companies may pay a penalty up to 200% of the tax undercharged, liable to a fine and an incarceration term. 8. For correction of errors in the past GST returns, businesses have five (5) years from the end of the relevant accounting periods. 9. Do inform IRAS on any changes in your business within 30 days (i.e. address, business name, ownership, and name of shareholders) For more information, please visit:

Keywords: Accounting & Tax Services, business accountants, business bookkeeping, Business Services, Certified Public Accountant, Tax Accounting, Tax Consultants, tax preparation, Tax Services, Taxation Services

Other products and services from Accounting Solutions Singapore


Tax Services

Timely and accurate tax submission to IRAS is an important requirement that all businesses must comply with in Singapore. ACS assists in maintaining proper tax filing system, preparation of estimated chargeable income (ECI), timely filing of relevant income tax forms, preparation of tax computation, interpretation of notice of assessments and also assists with IRAS tax queries.


Corporate Secretarial Services

ACS company secretarial teams are experienced in handling legal requirements for companies incorporated in Singapore in an efficient manner. ACS has an in-house team of highly qualified company secretaries who manage annual returns filing, do record keeping, issuance of shares and updating share register, arrange board resolution memos for annual general meetings (AGM), organize signatories of banks and opening of corporate bank accounts, manage an updated list of company directors.


Payroll Outsourcing Services

ACS also provides monthly payroll processing services. ACS has vast experience in handling advanced payroll systems. This helps to ease the human resource demands to ensure calculation of statutory contribution, computation of net pay, personnel records keeping, pay slip management, payroll processing and report distributions are conducted timely, accurately and efficiently.


Accounting Services

Using professional accounting systems, ACS provides monthly financial reports and advice on managing cash flows and key financial ratios. ACS offers efficient data entry services performed by qualified accountants and reviewed by Chartered Accountants (i.e. a member of the Institute of Singapore Chartered Accountants) on a monthly basis. The accountants assigned to the tasks embrace consistency from start to completion.