GST workshop

Updates and an in-depth analysis on the penalties that GST-registered businesses face and how to minimise errors.

With a higher GST rate of 9% from 1 January 2024, GST-registered businesses are subjected to higher tax exposure and penalties for non-compliance.​

Generally, a 5% late payment penalty is imposed on the GST-registered businesses for errors made that have tax impact. In addition, there could be penalties of up to two times of the amount of tax involved for the incorrect GST return filed.​

Based on the Inland Revenue Authority of Singapore (IRAS) FY2023/24 annual report, GST being the third largest contributor of revenue collection for the IRAS, accounted for 20.7% ($16.6 billion) of total tax collection. In FY2023/2024, a total of 2,521 GST audits were completed across various industries, resulting in a recovery of $162 million, including penalties. These statistics show that GST-registered businesses are still making errors despite it being implemented more than 30 years ago.​

To improve compliance and minimise errors and penalties, GST-registered businesses should adopt a proactive approach by consistently reviewing their GST returns to detect errors and rectifying them in a timely manner.​

Many errors arise due to a lack of knowledge of the GST rules and regulations. It is critical that the personnel responsible for the GST returns are equipped with adequate knowledge and keep themselves abreast of the latest developments. ​

This workshop equips participants with the necessary GST knowledge to better manage compliance and be abreast of GST legislative changes. It also provides valuable insights into common GST risk areas and pitfalls, to help improve GST compliance​

All participants will attend the main module on “Common GST issues” and they can choose any of the following optional modules: ​

• All about goods​

• All about services​

• Preparation of GST forms​

Who should attend ​

Financial controllers, finance managers, accountants and accounting staff involved in the preparation of GST returns. Staff in operations, sales, logistics and administration can also benefit from the workshops.

Workshop agenda​

Module 1: Common GST issues​

• Mechanics of GST​

• Value and types of supply​

• Common GST schemes​

• Conditions governing input tax claims​

• Deeming of output tax​

• Inter-company billings and recovery of expenses​

• Recent GST developments​

Module 2: All about goods​

• Place and time of supply​

• Imports​

• Zero-rating of exports​

• Handling of goods on behalf of overseas principal​

• Case studies​

Module 3: All about services​

• Place and time of supply​

• Zero-rating of international services​

• E-commerce​

• Case studies​

Module 4: Preparation of GST forms​

• Completion of forms (GST F5, F7 and F8)​

• Payment or refund of GST​

• Record keeping requirements​

• Common errors​

• Exercise or case study

Fees stated include GST.​

A group discount of 10% applies to organisations registering three or more participants for​ the workshop.​

CPE hours​

7 to 14 CPE hours, depending on choice of modules.​

Important note: ​

This event is for EY clients, prospects and in-house tax and finance professionals. Seats are limited. Registration closes on 18 March 2025 or when seats are filled. A confirmation email will be sent to you if your registration is successful. Please only send payment after you have received confirmation of your registration. Joining instructions will be sent via email on 24 March 2025. EY Corporate Advisors Pte. Ltd. reserves the right to accept registration, cancel the event or amend the schedule and speakers due to circumstances beyond our control. We regret that we cannot provide fee refunds, but changes in the personnel attending can be accommodated. For queries, please contact Calista Woo. ​

Please note that photographs, video and/or audio recordings (Materials) may be taken during the event. The EY member firms in Singapore may collect, use, reproduce, edit and/or share the Materials for its internal and external publications (which include magazines, newsletters and website), for publicity and marketing purposes, and/or for post-event communications with event attendees. All rights, title and interests in the Materials shall belong to EY.

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