Registration of GST | Filing of GST
GST Registration becomes mandatory when a company’s taxable turnovers for the past 4 quarters (regardless of FY) surpasses $1 Million OR if you are producing or intending to produce taxable supplies and can reasonably expect your company’s turnover for the next 12 months to exceed $1 Million.
Companies can also opt to voluntarily register GST if you have reasonable reason that the company incurred more taxable purchase than sales.
With Ace Success Pte Ltd, we will save you the trouble of continually evaluating if your business falls within the registration category. Just book a non-obligatory appointment with us to clear your doubts.
What we need from you?
- An updated ACRA business profile
- 3 Copies of suppliers’ invoices
- 3 Copies of Sales Invoices
- Tenancy agreement
- A copy of the latest Profit & Loss, including reports & notes to accounts (need not be audited) or recent 2 months of detailed Sales & Purchase Listings, if the business is less than 2 years.
Once we have received the required documents by email, a review would be done before proceeding to the application.
The expected confirmation after submission of the application will depend on IRAS.
IRAS will send the letter of confirmation to the company’s registered address and it will also include the following date for the submission of GST return. (Quarterly, Bi-Annually).
Once the GST is registered, the company is obligated to do the GST filing based on the GST filing period stated by IRAS.
The company cannot apply for de-registration within 2 years.
What is next?
Once your company is a GST registered company, you can engage our GST filing services. We will then compute and prepare the GST report for submission based on your filing period (e.g., quarterly or semi-annually).
To facilitate the GST filing process, you can also engage our Accounting Services
which will help to decrease the possibilities of errors in your accounting records.