In Singapore, GST is a consumption tax levied on the supply of goods and services and the goods imported into Singapore from other countries. GST is an indirect tax, provided by GST-registered businesses applied to the selling price of goods and services. The current GST rate is 7%.
The GSTN is a non-profit, non-government organization. It will manage the GST portal's entire IT system, which is the mother database for everything GST. The Government of India will use this portal to track every financial transaction.
All business entities will need to Register under GST and obtain a unique 15-digit Goods and Service Tax Identification Number (GSTIN). It will replace the previously existing Tax Identification Number (TIN), allotted to businesses for registering under VAT.
GST Calculator is a device that helps in calculating the GST amount on different goods or services accurately. The tool's sole purpose is to show the total value of goods or services, including the amount of GST.
The MoF simplified the GST registration procedure online. Through the GST portal, the applicant can process the GST registration procedure. The portal generates GST ARN immediately after the submission of the application. The applicant can check the status
Every company/individual who supplies goods and services has to register under GST under the current GST regime. So, if your annual business turnover exceeding Rs.20 lakh (in all Indian states, other than north-eastern countries), you need to register with GSTN