GST audit is a process of checking and reviewing the GST filing of a business to ensure that it is correctly and accurately filed. IRAS has been conducting GST audit more regularly nowadays and therefore it is advisable for businesses to perform their internal checks before such tax audit takes place.
Businesses can adopt the IRAS Assisted Self-help Kit (ASK) to perform their checks or self-assessment. ASK is designed by IRAS to help GST-registered businesses manage and comply with GST requirements/regulations effectively. The ASK self-assessment/review is mandatory for businesses under the following schemes:
a) Import GST Deferment Scheme (IGDS);
b) Approved Marine Customer Scheme (AMCS);
c) Approved Contract Manufacturer and Trader (ACMT) Scheme;
d) Approved Refiner and Consolidator Scheme (ARCS);
e) Major Exporter Scheme (MES); or
f) Approved Import GST Suspension Scheme (AISS).
ASK is also mandatory if you are renewing any of the following:
a) Import GST Deferment Scheme (IGDS);
b) Major Exporter Scheme (MES); or
c) Approved Contract Manufacturer and Trader (ACMT) Scheme.
The compulsory ASK self-assessment/review has to be performed and/or certified by an Accredited GST Professional of the Singapore Institute of Accredited Tax Professionals (SIATP). It is important for companies to perform internal GST checks (or self-imposed GST audit) periodically even when it is not compulsory. This is to ensure that GST compliance is not an issue if IRAS happens to conduct a tax audit and/or tax investigation.
Besides ASK, there is also an ACAP application. Read more about GST ACAP here.
Penalties for Filing Incorrect GST Returns
| S59 & S62 of GST Act | Negligence / Carelessness | Evasion |
| Max Penalty (% of tax undercharged) | 200% | 300% |
| Max Fine | $5,000 | $10,000 |
| Max Jail Term | 3 years | 7 years |
At A Tax Advisor Pte Ltd, our staff are trained to perform ASK and assist you in any GST issue including IRAS GST audit issue. Please contact us to discuss your GST issue.