Short, Simple and Interesting FAQs
What Is the Purpose of Singapore GST? The GST was introduced into Singapore on 1st April 1994 with the purpose of enabling Singapore to place its reliance on indirect taxes instead of direct taxes. It is perceived as a way to lower personal income tax and corporate income tax rates, and provide a steady flow … Read more
What is GST payment? GST payment is the periodical remittance of GST amount payable by the business. It one of the major requisites for a business to stay compliant. As per the guidelines, every registered regular taxpayer must make GST payment with a due date – 20th of every month along with the submission of GSTR-3B … Read more
GST is a consumption based tax/levy. It is based on the “Destination principle.” GST is applied on goods and services at the place where final/actual consumption happens. GST is collected on value-added goods and services at each stage of sale or purchase in the supply chain. GST paid on the procurement of goods and services can … Read more