GST Seminar Year 2022
GST Seminar 2022 Quiz
Test your knowledge on Goods and Services Tax (GST) related to exports and imports in Singapore through this engaging quiz. Challenge yourself and learn more about GST regulations, direct and indirect exports, tax invoices, and compliance requirements.
- Understand Direct vs. Indirect Export
- Learn about GST implications for exports and imports
- Master the necessary documentation for zero-rating
RSA invoices his overseas customer and deliver the goods to the freight forwarder/handling agent appointed by his overseas customer. (Please identify this statement is Direct or Indirect.)
Direct Export
Indirect Export
Which is the correct statement that related to Direct Export?
Direct export means a company have the custody of the goods to be exported; have the control of the export arrangement.
Direct Export means a company do not have the custody of the goods to be exported; do not have the control of the export arrangement.
GST charged to customer is not an income to RSA.
True
False
What happen if RSA do not maintain the required export documents as specific to support zero-rating within 60 days?
We must continue to chase the required export documents even after 60 days until we have it.
Zero-rating supply is not allowed anymore. We must treat the sale as a local supply and account for GST based on prevailing rate.
If the Export Permit or Bill of Lading does not state RSA as the exporter, RSA is required to maintain the Subsidiary Export Certificate / Note of shipment issued by freight forwarder or handling agent.
True
False
It is wrong to import personal item belongings to company staff using RSA’s MES status.
True
False
If the company without MES status, GST have to pay upfront when goods import into Singapore.
True
False
Singapore Customs will impose penalties for those did not submit a proper record (e.g: under-declare of quantity and value on import).
True
False
Effective from 1 January 2023, RSA must charge customer 8% of GST.
True
False
The GST registration number of the vendor/supplier has to be shown on the tax invoice in order for RSA to be able to claim input tax.
True
False
Can RSA claim input tax if the vendor/supplier does not state their address on a simplified tax invoice?
Yes
No
RSA would have to ask for a tax invoice if items purchased amount is more than $1000. (Not for entertainment expenses with RSA’s clients)
True
False
Lastly, please state your name. Thank you! :)
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