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B
BSL_Ling
December 31, 2021
Question

Turn off GST, Singapore

  • December 31, 2021
  • 1 reply
  • 0 views

Hi,

 

I am new to QBO. 

 

When creating a new QBO file in Essentials or Plus , how do I turn off GST before I start using the file?

1 reply

J
JamaicaA
December 31, 2021

Thank you for choosing QuickBooks for your business, @BSL_Ling. 

 

I'm here to share some ideas about the GST feature in QuickBooks Online. This way, you can decide whether to turn it off or not.

 

QuickBooks has a default set of GST/VAT codes created for you automatically. That said, it can do the calculations for you on your invoices and receipts for easy and accurate filing. 

 

Once you have setup or turned on GST, we can no longer turn off this option. This includes your past transactions with the GST. If you don't want them to be calculated, you can set it up manually.

 

You'll want to consider changing your default tax rate. Take note that changing an existing one can affect your sales tax tracking, especially on prior transactions.

 

To learn more about GST rates, you can visit this article. It includes steps on how to deactivate and add group tax.

 

I highly suggest reaching out to an accountant so they can help you identify the correct amounts and code to be used. 

 

You might also find these links helpful regarding GST:

 

 

If you have further questions about GST, always know that the Community is always ready to help. We'll be on a lookout for your reply. Keep safe.

B
BSL_LingAuthor
January 4, 2022

HI @JamaicaA 

 

Thank you for your reply.

 

Is this article on "how to setup GST for non GST registered clients" apply to QBO International, in particular Singapore?

https://quickbooks.intuit.com/learn-support/en-au/gst-and-bas/how-do-i-set-gst-to-not-apply-to-the-file-as-the-client-is-not/00/393049

 

If this applies to Singapore, is it possible to build in the tax code N-T (Ie Not Taxable) as Out-of-Scope is defined by IRAS as follows (https://www.iras.gov.sg/taxes/goods-services-tax-(gst)/charging-gst-(output-tax)/when-is-gst-not-charged/out-of-scope-supplies):

 

GST does not need to be charged on out-of-scope supplies and such supplies need not be reported in the GST return.

Out-of-scope supplies include sale of goods not brought into Singapore, sales of overseas goods made within the Free Trade Zone and Zero GST Warehouses, and private transactions.

Sale of Goods not Brought into Singapore

Sale of goods that are delivered from a place outside Singapore to another place outside Singapore. Such supplies are considered to be out-of-scope supplies; they are not subject to GST and need not be reported in the GST return.

 

And since some of our clients have a combination of OFS and taxable supplies/purchases, it can be confusing to put it as OFS in the advanced settings.

 

Jen_D
Jen_D
January 4, 2022

Hello, @BSL_Ling.

 

Thanks for posting here in the QuickBooks Community. I'm joining in the conversation to share additional information about this GST concern.

 

Your linked article applies to QBO Australia users, hence, the country's flag is indicated at the top-right of the post. For your country, you need to manually toggle if the sale is inclusive, exclusive or out of scope for GST. See this:

 

 

If you're using the program for Singapore, refer to these GST links:

 

 

Please post here again if there's anything else you need help with. I'll be right here to help you out with your tax concerns. Have a good one!

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