Getting your GST registration right is essential to staying compliant with IRAS requirements. At Margin Wheeler, we guide you through the entire registration process, determine whether your business falls under compulsory or voluntary registration, and assist with your application submission.
Our experienced team ensures that your registration is completed smoothly and accurately, helping you avoid delays or penalties while keeping your business fully compliant with IRAS regulations.
When GST Registration Becomes Compulsory in Singapore?
Businesses must register for GST once their taxable turnover exceeds S$1 million at the end of the calendar year or is expected to cross this threshold in the next 12 months. Failing to register on time may result in penalties or backdated GST charges by IRAS.
To support your GST registration application, you’ll need to prepare the following documents for verification and assessment:
- ACRA Business Profile: to confirm the company’s registration details.
- Latest Financial Report or detailed Sales & Purchase Listings for the past 2 months (if your business is less than 2 years old): to substantiate your turnover.
- 3 recent supplier invoices (with shipping documents): to demonstrate active business operations.
- 3 recent customer invoices (with shipping documents): to verify taxable sales and business activity.
At Margin Wheeler, our team assists in reviewing your financial records and compiling the required documents to ensure a smooth and compliant GST registration process with IRAS.
Voluntary GST Registration in Singapore
If your business has not yet reached the S$1 million taxable turnover threshold, you can still register for GST voluntarily to claim input tax on business purchases or to enhance your company’s credibility with clients and suppliers.
The required documents differ depending on whether your company has already commenced sales or not yet started sales.
For Companies That Have Started Sales
Prepare the following documents to support your GST registration:
- ACRA Business Profile: confirming your company details.
- Latest Financial Report or detailed Sales & Purchase Listings for the past 2 months (if your business is less than 2 years old): to substantiate your turnover.
- 3 recent supplier invoices (with corresponding shipping documents).
- 3 recent customer invoices (with shipping documents).
OR
For Companies That Have Not Yet Started Sales:
If your business has yet to begin sales, IRAS requires documents proving genuine commercial intent:
- ACRA Business Profile.
- Signed contracts, accepted tenders, or purchase orders that show planned business transactions.
- Tenancy agreement for your business premises (office, warehouse, or shop).
- Relevant licences, permits, or approvals to operate your business activities.
- Signed Option to Purchase or Sale & Purchase Agreement (if applicable).
- Detailed Purchase Listing with at least 3 recent supplier invoices and related shipping documents from the past 2 months.
At Margin Wheeler, we help you evaluate the pros and cons of voluntary GST registration, prepare your submission, and liaise with IRAS to ensure your registration is approved smoothly and efficiently.
We can process the GST Registration for your company to ensure the application gets approved so you can enjoy the perks that come with it!