How to apply cancellation of GST registration in Singapore

GST in Singapore refers to the Goods and Services tax, which is a consumption tax applied on the supply of goods and services. It was introduced in Singapore on April 1, 1994 and increased to 8% in January 2023.The revenue generated from GST is used to fund public services and infrastructure projects in Singapore.

Cancellation of GST registration in Singapore

If you want to cancel GST (Goods and Services tax) registration, you need to follow these  procedures set by the Inland Revenue Authority of Singapore (IRAS).

Compulsory cancellation of GST registration

You must apply for cancellation of GST registration within 30 days. 

  1. If your business is not making taxable supplies and is not able to make in future.
  2. Your business has Stopped trading.
  3. Your business is transferred as a whole to a third party (the buyer or transferee is responsible for registration of GST).
  4. Your business infrastructure has been changed and the new entity must determine its future needs.

Voluntary cancellation of GST registration

You may voluntarily cancel your GST registration if the taxable income for the upcoming 12-month period is expected to be SGD 1 million or less, and the company has not been under voluntary registration for more than two years.

How to apply for cancellation of GST Registration

To cancel the GST registration is possible via an online application form mytax.iras.gov.sg. The form is processed by IRAS (Inland Revenue Authority of Singapore).

Most online applications are approved on the day of application, with exceptions of some that may take 1 to 10 working days to process.

Notification of cancellation

You’ll be notified of the approval of cancellation of GST registration and the effective date of cancellation.

Once the cancellation is complete:

  1. You should not collect GST after approval of cancellation of GST registration.
  2. You should not issue tax invoices.
  3. If you were approved to operate the Tourist Refund Scheme (eTRS), you should also inform your Central Refund Agency about the cancellation of your GST registration.

Filing your final GST return (GST F8)

You’ll be issued a final GST return (GST F8) to account for GST up until the last day of your GST registration, which is one day before the effective date of cancellation of GST registration.

  1. Submit the GST F8 and account for GST within 1 month.
  2. File outstanding GST returns and make any outstanding GST payment.
  3. When filling out the GST F8 form, it is essential to include the output tax for inventories and capital assets that are still available on the final day of GST deregistration.

Record keeping requirements

You’re required to maintain all business transactions for at least 5 years from the date of the business transaction.

FAQs

When can a business cancel its GST registration?

A business can apply for deregistration of GST within 30 days. Once It has stopped making taxable supplies in future.

I am not making any sales but I am still GST-registered. Do I need to submit my GST returns?

As long as you registered for GST, you should need to submit GST returns. When you do not have any business transactions for the accounting covered in your GST return, you should submit a Nil return.

Is there a specific form for GST cancellation?

The GST F8 form is typically used for the cancellation of GST registration. You can access and submit this form through the myTax Portal.

What happens after my GST registration is cancelled?

After cancellation, you’ll receive a notification of the effective date. Ensure you comply with any post-cancellation requirements, and if restarting the business, consider the implications for GST (Goods and Services Tax) registration.

How long does it take to process a GST cancellation application?

The processing time can vary, but you will receive confirmation from IRAS (Inland Revenue Authority of Singapore) within 1 to 10 working days once your cancellation is approved.

Conclusion

The cancellation of GST registration is easy to apply, you need to login in online myTax portal and apply for cancellation of registration. IRAS (Inland Revenue Authority of Singapore) will approved your application within 1 to 10 working days. After approval of application you should not collect GST on your sales and issues any tax invoices.

Henry Thomas

I am Henry. My passion lies in creating high-performing teams, optimizing business processes and leading the strategic direction of the business. My expertise includes helping small businesses with a range of accounting services, tax preparation, business advisory, accounting and bookkeeping, and personal tax planning, as well as company, trust and partnership tax returns and more.