GST-registered businesses may claim GST incurred before registering for GST and also before incorporation provided certain conditions are met.
On 18 July 2018, the Inland Revenue of Singapore (IRAS) have updated the Third Edition of the e-Tax Guide, GST: Pre-registration Claims on Goods and Services (For Businesses Registered for GST on or after 1 July 2015). It replaces the second edition that was issued on 11 July 2017.
This e-Tax Guide include the following changes:
- Insertion of paragraph 4.7 and footnote 8 to explain what is meant by “property rental, utilities and services in relation to property not directly attributable to supplies made before GST registration” and made consequential renumbering of next two paragraphs.
- Insertion of paragraph 6.1 to clarify the treatment of raw materials. Re-organised and renumbered subsequent paragraphs up to paragraph 6.14 as a consequence. Editorial amendments also made to paragraphs 6.11 and 6.13.
- Amendment to paragraph 7.1 and example 9 to give further clarity on the treatment of property rental and utilities directly attributable to supplies straddling GST registration.
- Consequential changes to Annex D as a result of 2. above.
Source: IRAS, 21 July 2018