When is the GST F5 return due, and what goes in it?

Once you are registered for GST in Singapore, you file a GST F5 return for each accounting period, whether or not you had any transactions in it. This covers the timing and the main boxes.

How often is the F5 filed?

Quarterly, for most businesses. IRAS assigns your accounting periods when you register; a quarterly cycle is the default. Some businesses apply for monthly filing, usually because they expect regular refunds.

When is it due?

One month after the end of the accounting period. A quarter ending 31 December is due by 31 January; a quarter ending 31 March is due by 30 April. Any GST payable is due on the same date. Returns are filed through myTax Portal. A return is required even if there is nothing to report; in that case you file a nil return.

A late return attracts a penalty of S$200 at once, and a further S$200 for each completed month it stays outstanding, up to S$10,000 per return. Late payment attracts a separate penalty.

What goes in Box 1?

Box 1 is the total value of your standard-rated supplies: the sales and services you charged GST on during the period, before GST. If you are an agent, this is your commission or fees for the quarter, excluding the 9% GST. Zero-rated supplies, such as exports, go in Box 2, and exempt supplies in Box 3.

What goes in Box 5?

Box 5 is the total value of your taxable purchases: what the business spent on goods and services during the period, before GST. It includes standard-rated purchases from GST-registered suppliers and imports. It excludes salaries, private spending and purchases from suppliers that are not GST-registered.

What goes in Box 6?

Box 6 is the output tax due: the GST you charged on the supplies in Box 1. At the 9% rate, Box 6 is normally 9% of Box 1, adjusted for any credit notes issued in the period.

What goes in Box 7?

Box 7 is the input tax and refunds you are claiming: the GST you paid on the purchases in Box 5 that qualify for a claim. The difference between Box 6 and Box 7 is the net GST you pay to IRAS or receive as a refund, shown in Box 8.

What is needed to claim input tax?

A tax invoice from the supplier, showing the supplier’s GST registration number, the date, a description, the amount and the GST charged. For purchases of S$1,000 or less including GST, a simplified tax invoice, such as a receipt showing the GST registration number and the amount including GST, is enough. A credit card slip on its own is not a tax invoice. The purchase must also be for your business and not blocked from claims.

Record each tax invoice and its GST when you receive it, and Boxes 5 and 7 are ready at quarter end. Tallycent reads the GST from each receipt and shows the F5 figures for any quarter.