Every business that registers for GST in Singapore steps into a firm obligation — quarterly filing of returns with IRAS. This rule holds whether your business had a busy quarter full of sales or absolutely no transactions at all. Even in a “quiet” period, the law expects a return, and not filing is simply not an option.
So what actually goes into these returns? Businesses have to declare the basics: how much they sold, what they purchased (whether from local suppliers or overseas vendors), the GST collected on sales, and the GST they want to claim back on expenses. Nothing too surprising there, but the declaration must be precise.
By default, the accounting cycle for GST is set at three months. Still, there is a small window of flexibility. Some businesses, especially those that often find themselves in a refund position, can request to switch to monthly filing. That requires a formal application to IRAS, and the reasons have to make sense. Approval isn’t guaranteed — IRAS looks at each request on its own merits.
Now, the return dates don’t just float. They are tied quite tightly to the financial year-end of the business. To give you a sense of how this plays out:
- If your FYE is January, April, July, or October, your first GST period starts from 1 November and runs through 31 January.
- If the FYE is February, May, August, or November, the cycle is 1 December through the end of February (28th or 29th).
- And for FYE in March, June, September, or December, the first quarter is 1 January to 31 March.
The pattern continues like clockwork after that. It keeps things aligned with your accounts, which makes reconciliation a little less painful when it’s time to tie up numbers for both GST and financial statements.
Correction of Errors in GST Return
Of course, no system is flawless, and mistakes happen. Maybe someone keyed in the wrong number, or perhaps a revenue figure got misplaced. IRAS has a process for this — and it’s not about panic but about correction.
The rule is straightforward: if you’ve made an error in a GST F5, F7, or F8 return, you’re expected to file a GST F7 return to fix it. That’s the standard path. But there are a few exceptions, and IRAS does give some breathing space for smaller slips.
For example, if the only mistake is in Box 13 (revenue), you don’t have to file a correction. You simply carry the right figure forward into the next return.
Beyond that, you’re allowed to fix errors in your next GST F5 return — but only if two conditions line up:
- The net GST error across all affected periods is SGD 1,500 or less.
- The total of non-GST errors doesn’t exceed 5% of the value of supplies declared in Box 4.
If there wasn’t any supply in that period, then the 5% is measured against the total value of taxable purchases.
Once the mistake is bigger than these thresholds, no shortcuts — you must file GST F7. And when you do, IRAS expects the whole form to be replaced. That means every box should carry the correct figure, not just the one that had the mistake.
This approach strikes a balance. Small adjustments don’t create unnecessary admin, but material errors have to be corrected properly, ensuring the GST system stays accurate.
Final GST Return (GST F8)
Deregistration brings its own paperwork. If a business cancels its GST registration, there’s still one last return to file — the GST F8. This isn’t just a formality; it has teeth.
The F8 return captures output tax on taxable assets that the business still holds on the final day of registration. That includes capital assets, inventory, and other items where input tax had been claimed previously. Even if those goods haven’t been sold, GST rules treat it as if they have been — you are considered to have “supplied” them in business.
The valuation is based on the open market value at the date of deregistration, using the prevailing GST rate.
There are, however, a few carve-outs. You don’t have to account for GST on assets if:
- Their combined open market value doesn’t exceed SGD 10,000.
- You transfer the entire business as a going concern to another GST-registered entity.
- The business continues under another person who is considered the taxable person (common in cases of liquidation, receivership, or even where the business owner passes away).
Without the F8, businesses could quietly walk away with assets and avoid GST, so this safeguard ensures fairness across the board.
Due Dates
Now let’s talk deadlines — the part no one likes but everyone has to respect.
Every GST-registered entity must file the GST F5 return electronically, every accounting period, without exception. Even if you didn’t have a single invoice, you still have to submit what’s known as a “NIL” return. Skipping it isn’t an option.
The deadline? One month after the end of the accounting period. Simple to say, but easy to miss if you’re not organised. And missing it isn’t cheap. IRAS charges a late submission penalty of SGD 200 as soon as you’re late, and if you continue ignoring it, the penalties can stack up very quickly.
Here’s a look at how the cycle runs in practice:
- Jan–Mar period → file and pay by 30 April. GIRO deduction (if applicable) happens 15 May.
- Apr–Jun period → file and pay by 31 July. GIRO deduction 15 August.
- Jul–Sep period → file and pay by 31 October. GIRO deduction 15 November.
- Oct–Dec period → file and pay by 31 January. GIRO deduction 15 February.
Errors don’t just vanish with time either. They must be corrected within five years from the end of the accounting period in which they were made. If corrections are made after one year, penalties may follow on top of the corrections.
All of this points back to one message: timeliness matters. Keeping GST filing on the radar throughout the year is far easier than trying to clean up after deadlines have passed.
Final Thoughts
GST filing isn’t just a task that sits on a compliance checklist. It’s an ongoing responsibility that reflects how disciplined a business is in its operations. Each quarter is a test of consistency. And consistency, in this case, keeps the taxman off your back.
Even when nothing happens in a quarter, filing a NIL return on time shows you understand the rules and respect the process. When mistakes do creep in — and they will, from time to time — correcting them within the IRAS thresholds shows good faith and sound recordkeeping.
And for businesses closing shop or transferring ownership, the F8 ensures everything is tied up neatly. It prevents leakage, protects fairness, and shows that the system covers the full life cycle of a business.
The reality is, these filing requirements aren’t designed to trip businesses up. They’re designed to keep the GST system smooth, fair, and predictable. Once you embed GST deadlines into your regular finance routine, compliance stops feeling like a scramble and becomes second nature.
At the end of the day, it’s a simple trade-off. You either keep up with the cycle — quarter by quarter, deadline by deadline — or you end up paying the price through penalties, wasted time, and unnecessary stress. Given the choice, most businesses would rather keep their money where it belongs: in their own operations, not in fines.
