If you run a shop or business in Singapore, you need to deal with GST. GST means Goods and Services Tax. You add this tax when you sell things or give services. After that, you need to tell the tax office how much GST you got and how much GST you paid. This is called GST filing singapore.
To do this right, you must collect the proper papers. These papers help you show what you sold and what you bought. If you don’t have these, you may get in trouble. Let’s explore what you need and how to stay ready.
Why Do You Keep These Papers?
Every three months, you send a report about GST. This report tells:
- How much GST do you get from people
- How much GST you paid to others
You must save all papers that show these numbers. If your report doesn’t match your papers, someone may come to check. This check may come from people who study money records, like forensic accounting firms. So, it’s smart to keep everything clear and ready.
What Papers Show Your Sales?
These papers help you show how much GST you collected when you sold things or gave services.
Tax Invoices
A tax invoice is a paper you give to someone who buys from you. This paper must show:
- Invoice number
- Date
- Buyer’s name and address
- Your name and GST number
- What you sold
- How much you charged
- How much GST you added
Say clearly that GST is in the price.
Receipts
If you sell something small, you can give a simple receipt. Still, it should show the full price and the GST inside it.
Credit Notes
If a buyer gives something back or if you drop the price later, write a credit note. This paper shows what changed and how much GST you now need to adjust.
Debit Notes
If you raise the price after you give the first bill, write a debit note. This paper shows the new higher price and the extra GST.
Export Papers
If you send goods to another country, you don’t charge GST. But you must prove the goods left Singapore. Keep these:
- Shipping papers
- Delivery bills
- Proof of payment
What Papers Show What You Bought?
These papers help you show the GST you paid when you bought things for your business.
Supplier Invoices
When you buy something, ask the seller for a tax invoice. This paper must show the price and GST. Check it well before you file.
Payment Slips
If you don’t get an invoice, write a payment slip. This can be for small buys. Show:
- What you bought
- The price
- The date
Import Papers
When you bring in goods from other countries, you pay GST. Keep your import permits and GST bills. These help you get your money back.
Expense Forms
Sometimes your workers buy things for work. Ask them to fill an expense form and staple the receipt. This helps you claim the GST.
Rental Papers
If you rent a place or a machine, keep the rental agreement. This shows how much rent you pay and if GST is in the price.
What Other Papers Help?
Besides sales and buys, some other papers help you show your GST work is right.
Accounting Books
These books show:
- What you earned
- What you spent
- What you own
- What you owe
They help match your money work to your GST reports.
Bank Records
Your bank statements help you show when money came in and when it went out. These support your papers.
Stock Lists
If you sell goods, track your stock. Keep these:
- Start and end stock
- What you bought
- What you sold
- Stock check papers
Contracts
When you make big deals, write contracts. These show how you set prices and handled GST.
What Happens During a GST Audit?
Sometimes, the tax office may choose your business for a GST audit. This means they will check your GST filings and the documents you used to support them. They may visit your office or ask you to send in papers. During the audit, they will look at:
- Sales and purchase invoices
- Payment records
- Bank statements
- Stock reports
- Contracts and agreements
They want to see if your GST filing singapore matches your real business work. If your papers are neat and correct, the audit will go quickly. But if your records look messy or numbers don’t match, the audit may take longer. In serious cases, they may ask forensic accounting firms to step in and do a deeper check.
To prepare for an audit, always keep your GST documents up-to-date and well-organised. Store them safely and be ready to show them. If you stay ready, you won’t need to worry if an audit comes.
How to Organise Your GST Documents
Keeping your GST documents in order helps you save time and avoid mistakes. You can create simple folders for each type of paper:
- Sales invoices folder
- Purchase invoices folder
- Bank records folder
- Staff expense folder
- Import/export folder
Label each folder by month and year. You can use paper files or digital folders on your computer. If you choose digital, scan all paper receipts and save them in the right folder. Make sure to back them up often.
Also, create a simple checklist. Every time you buy or sell something, tick off the papers you have collected. This helps you know what’s missing before it’s time to file.
A well-organised record system helps you file your GST fast. It also helps you answer questions from the tax office. If your papers are clear and easy to find, GST filing Singapore becomes much simpler and faster for your business.
How Long Should You Keep These Papers?
Keep all GST papers for five years. Even if you stop your business, save them. You can use:
- Paper files
- Computer files
Just make sure you can find and show them when needed.
What Happens If You Don’t Have These?
If you miss or lose these papers, things can go wrong.
You Claim Too Much GST
If you say you paid GST but have no proof, the tax office may make you pay it back.
You Report Less Sales
If you don’t show all your sales, you may owe more tax.
You File at the Wrong Time
You must put sales and buys at the right time. Don’t mix up the months.
You Have Mixed-Up Records
If your GST filing and money records don’t match, someone may check. Forensic accounting firms might come in to look deeply.
Conclusion
Filing GST in Singapore is an important part of running a responsible and lawful business. It does more than just meet tax rules as it also helps you understand how your business is doing. When you collect and organise the right documents like tax invoices, receipts, import permits and expense forms, you protect your business from costly mistakes and delays.
You also make audits easier and keep your records clear for any future checks. Good record-keeping builds trust and shows that your business stays on top of its responsibilities. Whether you’re just starting out or have been filing for years, it’s worth setting up a strong system that keeps your GST papers in order.-
