Singapore GST invoicing rules: rate, threshold and credit notes

GST rate

The current GST rate is 9%. IRAS states this on its current rates page. The rate has applied since 1 January 2024.

Registration threshold

IRAS applies two tests based on taxable turnover of more than S$1 million:

• Retrospective: if taxable turnover for the calendar year exceeded S$1 million, apply between 1 and 30 January of the following year. Registration takes effect on 1 March.
• Prospective: if you expect taxable turnover to exceed S$1 million in the next 12 months, apply within 30 days after the date of that forecast.

Keep a dated forecast of turnover so you can show when you formed the expectation.

Tax invoice contents

IRAS lists these items for a tax invoice:

• The words "Tax Invoice"
• Supplier's name and address
• GST registration number
• Invoice date
• An invoice identifying number
• Customer's name and address
• Description of goods and services
• GST rate
• Total amount payable excluding GST
• Total GST
• Total amount payable including GST

Credit note contents

IRAS lists these items for a credit note:

• An identifying number, such as a serial number
• Date of issue
• Your name, address, and GST registration number
• Your customer's name and address
• Reason for the credit
• A description that identifies the goods and services credited
• Quantity and amount credited for each description
• Total amount credited, excluding tax
• Rate and amount of tax credited
• Total amount credited, including tax

Include the number and date of the original tax invoice on the credit note. If you cannot match the original invoice, keep other documents that show you accounted for GST on the original supply.

Record retention

IRAS says you must keep all records for at least 5 years from the end of the accounting period. If you change accounting software, keep the transactions in the old software for the same period.

Next step

Read the developer documentation to see how to generate tax invoices and credit notes that carry these fields.