{"id":2708,"date":"2022-01-21T05:59:22","date_gmt":"2022-01-21T05:59:22","guid":{"rendered":"https:\/\/www.vitalstatistics.info\/?p=2708"},"modified":"2022-01-21T05:59:22","modified_gmt":"2022-01-21T05:59:22","slug":"do-you-know-about-gst-e-filing-process","status":"publish","type":"post","link":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/","title":{"rendered":"Do You Know About GST e-Filing Process?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On 1<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> of April, 1994, Singapore established the GST (Goods and Services Tax). The GST Act is based on the VAT legislation in the United Kingdom and the GST legislation in New Zealand. For the government, it is usually seen as a mechanism for reducing personal and corporate income tax rates and at the same time maintaining a steady revenue base.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As it imposes a levy on spending, it is an indirect tax. At the moment, the rate is fixed at 7%. Morrison Management can help your business to do tax filing in a proper manner.<\/span><\/p>\n<h2><b><i>What is GST?<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Products and Services Tax, also known as Value Added Tax (VAT) in many other countries, is a consumption tax charged on the provision of commodities and services in Singapore, and also the import of various goods into Singapore.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">GST is considered as an indirect tax, which is applied to the selling price of any goods and services delivered by any registered business entities present in Singapore and is stated as a percentage, which is currently 7%. It is a tax that is levied on the final consumer, and hence it is not a cost to the business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Businesses just serve as collection agents for the Singapore tax authority if you get what we mean.<\/span><\/p>\n<h2><b><i>How to file GST?<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Those businesses that are already GST-registered should file their returns using myTax Portal and then pay IRAS within the due date. You must use \u201cSingpass\u201d instead of \u201cCorppass\u201d to log in to government digital services for businesses (G2B) starting April 11, 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Working out GST can be simple maths. It can be a little tricky to keep track of your entire transaction.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Step 1: GST Filing authorisation for users<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you are filing for the first time your GST return, or if the person(s) who is filing returns has changed, then this step is essential. Otherwise, you can directly move to Step 2.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your firm must authorise the individual filing the GST return to use the GST (Filing and Applications) e-Service through the corporate pass. If a third party (such as a tax agent) submits tax returns on your behalf, the third party must be authorised to do so in the corporate pass.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Step 2: You must file your GST return on the myTax Portal<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Use your SingPass to log in to myTax Portal under &#8220;Business Tax Matters&#8221; to file your organization&#8217;s tax return once you&#8217;ve been approved for tax filing.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Step 3: Save your acknowledgement page copy and make payment<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">An acknowledgement page will appear once you successfully file your GST return. The acknowledgement page includes a summary of the figures you submitted as well as directions for making the payment, if it is due.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Keep a copy of the acknowledgement page and pay any payable by the deadline.<\/span><\/p>\n<h2><b><i>GST guide for business<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Are you making your start with GST? It is a little extra administration and with the info provided, it will help you to get sorted all the problems.<\/span><\/p>\n<h2><b><i>Registering for GST<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">First, know whether your business will need to register for GST. In case it is needed then learn how you can do it and then find out what will happen next.<\/span><\/p>\n<h2><b><i>Calculating GST and also issuing tax invoices<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">If you are involved in a registered business, then you have to add Goods &amp; Service tax to all your prices. You must also issue tax invoices.<\/span><\/p>\n<h2><b><i>Working out all your GST refund or payment<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As mentioned before, working out taxes can be simple maths. You need to keep track of entire transactions, which is a little bit of a tricky process. You need to learn this process.<\/span><\/p>\n<h2><b><i>Claiming back GST<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">All registered businesses are able to get back the tax that they pay on their business expenses.<\/span><\/p>\n<h2><b><i>GST returns and their due dates<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">All GST-registered businesses have to declare how much they have collected so far and paid. You can do this by filing your GST returns.<\/span><\/p>\n<h2><b><i>Tools and guides available for your business<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">After you know all the details about GST, for many of you it can still be quite tough to keep track of everything as a businessman. Therefore, it will be a good idea to hire an external consultant service like Morrison Management.<\/span><\/p>\n<h2><b><i>Other e-Services<\/i><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">In addition to filing your GST return, many other useful e-Services can also be done on myTax Portal. You may refer to the webpage of IRAS on GST e-Services to get more information. For more information on GST filing in Singapore, you can check out <\/span><a href=\"https:\/\/www.morrisonconsultants.com.sg\/gst-filing\"><span style=\"font-weight: 400;\">https:\/\/www.morrisonconsultants.com.sg\/gst-filing<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 On 1st of April, 1994, Singapore established the GST (Goods and Services Tax). The GST Act is based on the VAT legislation in the United Kingdom and the GST legislation in New Zealand. For the government, it is usually seen as a mechanism for reducing personal and corporate income tax rates and at the same time maintaining a steady revenue base. As it imposes a levy on spending, it is an indirect tax. At the moment, the rate is fixed at 7%. Morrison Management can help your business to do tax filing in a proper manner. What is GST? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Do You Know About GST e-Filing Process? - Vital Statistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Do You Know About GST e-Filing Process? - Vital Statistics\" \/>\n<meta property=\"og:description\" content=\"\u00a0 On 1st of April, 1994, Singapore established the GST (Goods and Services Tax). The GST Act is based on the VAT legislation in the United Kingdom and the GST legislation in New Zealand. For the government, it is usually seen as a mechanism for reducing personal and corporate income tax rates and at the same time maintaining a steady revenue base. As it imposes a levy on spending, it is an indirect tax. At the moment, the rate is fixed at 7%. Morrison Management can help your business to do tax filing in a proper manner. What is GST? [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/\" \/>\n<meta property=\"og:site_name\" content=\"Vital Statistics\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-21T05:59:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.vitalstatistics.info\/wp-content\/uploads\/2021\/07\/Untitled.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Leonie Brekke\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Leonie Brekke\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/\",\"url\":\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/\",\"name\":\"Do You Know About GST e-Filing Process? - Vital Statistics\",\"isPartOf\":{\"@id\":\"https:\/\/www.vitalstatistics.info\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.vitalstatistics.info\/wp-content\/uploads\/2021\/07\/Untitled.png\",\"datePublished\":\"2022-01-21T05:59:22+00:00\",\"dateModified\":\"2022-01-21T05:59:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.vitalstatistics.info\/#\/schema\/person\/9ba0e9e8332c3b037bf0c4050ae8fa1b\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#primaryimage\",\"url\":\"https:\/\/www.vitalstatistics.info\/wp-content\/uploads\/2021\/07\/Untitled.png\",\"contentUrl\":\"https:\/\/www.vitalstatistics.info\/wp-content\/uploads\/2021\/07\/Untitled.png\",\"width\":800,\"height\":533},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.vitalstatistics.info\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Do You Know About GST e-Filing Process?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.vitalstatistics.info\/#website\",\"url\":\"https:\/\/www.vitalstatistics.info\/\",\"name\":\"Vital Statistics\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.vitalstatistics.info\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.vitalstatistics.info\/#\/schema\/person\/9ba0e9e8332c3b037bf0c4050ae8fa1b\",\"name\":\"Leonie Brekke\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vitalstatistics.info\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/80c7bdc8bf681232498c9cc53122270f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/80c7bdc8bf681232498c9cc53122270f?s=96&d=mm&r=g\",\"caption\":\"Leonie Brekke\"},\"url\":\"https:\/\/www.vitalstatistics.info\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Do You Know About GST e-Filing Process? - Vital Statistics","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/","og_locale":"en_US","og_type":"article","og_title":"Do You Know About GST e-Filing Process? - Vital Statistics","og_description":"\u00a0 On 1st of April, 1994, Singapore established the GST (Goods and Services Tax). The GST Act is based on the VAT legislation in the United Kingdom and the GST legislation in New Zealand. For the government, it is usually seen as a mechanism for reducing personal and corporate income tax rates and at the same time maintaining a steady revenue base. As it imposes a levy on spending, it is an indirect tax. At the moment, the rate is fixed at 7%. Morrison Management can help your business to do tax filing in a proper manner. What is GST? [&hellip;]","og_url":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/","og_site_name":"Vital Statistics","article_published_time":"2022-01-21T05:59:22+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/www.vitalstatistics.info\/wp-content\/uploads\/2021\/07\/Untitled.png","type":"image\/png"}],"author":"Leonie Brekke","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Leonie Brekke","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/","url":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/","name":"Do You Know About GST e-Filing Process? - Vital Statistics","isPartOf":{"@id":"https:\/\/www.vitalstatistics.info\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#primaryimage"},"image":{"@id":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#primaryimage"},"thumbnailUrl":"https:\/\/www.vitalstatistics.info\/wp-content\/uploads\/2021\/07\/Untitled.png","datePublished":"2022-01-21T05:59:22+00:00","dateModified":"2022-01-21T05:59:22+00:00","author":{"@id":"https:\/\/www.vitalstatistics.info\/#\/schema\/person\/9ba0e9e8332c3b037bf0c4050ae8fa1b"},"breadcrumb":{"@id":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#primaryimage","url":"https:\/\/www.vitalstatistics.info\/wp-content\/uploads\/2021\/07\/Untitled.png","contentUrl":"https:\/\/www.vitalstatistics.info\/wp-content\/uploads\/2021\/07\/Untitled.png","width":800,"height":533},{"@type":"BreadcrumbList","@id":"https:\/\/www.vitalstatistics.info\/do-you-know-about-gst-e-filing-process\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.vitalstatistics.info\/"},{"@type":"ListItem","position":2,"name":"Do You Know About GST e-Filing Process?"}]},{"@type":"WebSite","@id":"https:\/\/www.vitalstatistics.info\/#website","url":"https:\/\/www.vitalstatistics.info\/","name":"Vital Statistics","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.vitalstatistics.info\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.vitalstatistics.info\/#\/schema\/person\/9ba0e9e8332c3b037bf0c4050ae8fa1b","name":"Leonie Brekke","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vitalstatistics.info\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/80c7bdc8bf681232498c9cc53122270f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/80c7bdc8bf681232498c9cc53122270f?s=96&d=mm&r=g","caption":"Leonie Brekke"},"url":"https:\/\/www.vitalstatistics.info\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/posts\/2708"}],"collection":[{"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/comments?post=2708"}],"version-history":[{"count":2,"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/posts\/2708\/revisions"}],"predecessor-version":[{"id":2710,"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/posts\/2708\/revisions\/2710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/media\/2427"}],"wp:attachment":[{"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/media?parent=2708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/categories?post=2708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vitalstatistics.info\/wp-json\/wp\/v2\/tags?post=2708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}