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Inland Revenue Authority of Singapore. How to file GST returns and correct errors made in GST returns.
The form GST F5 Return has fifteen boxes that you must fill. You can access your GST returns by logging in to myTax Portal. All figures reported in the GST Return must be in Singapore Currency.
Manage your GST matters with our e-services, including applying for GST registration, filing GST returns, paying GST bills, and more.
1. Late submission penalty - A penalty of $200 will be imposed for every completed month that a GST return remains outstanding. The maximum penalty for each GST return is $10,000; and. 2. Late payment penalty - A penalty of 5% of the unpaid tax will be levied.
Submit your application to be a GST-registered business on myTax portal. Assisted Self-Help Kit (ASK) Review past GST submissions and discover errors with this self-assessment package from IRAS.
Nov 1, 2023 · If your business turnover exceeds $1.0 million in revenue within a 12-month accounting period, you must be GST registered. As a GST-registered business, you must file for goods and services tax within 30 days after the end of the accounting period. Failure to do so could lead you into hot waters and penalties.
You do this by filing GST returns (GST F5). Information you need. In your return, you need to declare how much GST you collected on sales, and how much GST you paid on purchases. It’s compulsory to e-file your GST F5 return via myTax Portal. When to file.
