The GST Act defines supply as including "all forms of supply done for a consideration". A supply includes a sale of goods or rendering of service. It can be either taxable (standard-rated or zero-rated), exempt or outside the scope of GST.
A taxable supply is a standard-rated or zero-rated supply. GST incurred by a GST registered person on his business purchases is recoverable from the Comptroller as input tax credit if the purchase is for the making of taxable supplies.
Standard-rated supply is the supply of goods or services made in Singapore. GST is chargeable at the rate of 5% on the value of the supply.
Zero-rated supply is the export of goods or the rendering of international services. GST is chargeable at the rate of 0% on the value of supply.
Exempt supply can be the sale/ lease of a residential property or certain financial activities as stated under the Fourth Schedule of the GST Act. GST is not chargeable on Exempt supply. Generally, any GST incurred in making Exempt supplies cannot be claimed as input tax.
This is a special feature offered by Tally to support different Types of GST Classes in one single entry. For instance, you can first pass a Purchase/ Sales entry by selecting the GST Type as Combined and then assign more than one GST Type in the voucher. Refer to the topic 'Entries Using Combined GST Type'.
When you have make a supply of goods which are delivered from a place outside Singapore to another place outside Singapore without passing through Singapore, such supplies are treated as out of scope supplies for GST purposes. Accordingly, you are not required to charge GST on the supplies.
Imports are goods removed from a place outside Singapore and brought into Singapore. GST is chargeable on the importation of goods into Singapore. It is collected by the Singapore Customs at the point of importation, regardless of whether the person is GST registered or not. However, GST will not be payable when a person is granted relief under the GST (Imports Relief) Order or is an approved traders under the Major Exporter Scheme, or the Third Party Logistics (3PL) Company Scheme.
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