One of the industries targeted by the IRAS for its GST audit this year is private education institutions. The IRAS has found that one such private school was late in registering for GST. Total penalties and GST recovered amounted to $70,000. More information at
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In light of the latest measures that the government has introduced to combat COVID-19 last week, the filing due date for all GST returns due in Apr 2020 will be automatically extended to 11 May 2020.
Common errors on input tax claims explained using an info video from IRAS Around 3,000 GST-registered businesses are selected by the IRAS for audit every year. The most common mistakes discovered are