#GST Rate Change tips
“How much 𝗚𝗦𝗧 for 𝗰𝗼𝗺𝗺𝗶𝘀𝘀𝗶𝗼𝗻 𝗳𝗲𝗲𝘀 charged by real estate agent for property purchase which 𝗰𝗼𝗺𝗽𝗹𝗲𝘁𝗲𝗱 𝗔𝗙𝗧𝗘𝗥 rate change date?”🤔
According to IRAS: If your brokering services are completed in 2023 and is 𝗼𝗻𝗹𝘆 pending payment after rate change and there is 𝗻𝗼 𝗼𝘁𝗵𝗲𝗿 𝘀𝗲𝗿𝘃𝗶𝗰𝗲 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗲𝗱 by you apart from the brokering services, you can charge 8% GST on your commission. 🔣
😵‍Facing difficulties to file tax?
Opt for 𝗔𝘂𝘁𝗼𝗖𝗼𝘂𝗻𝘁 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗙𝗶𝗹𝗶𝗻𝗴 now, an 𝗼𝗳𝗳𝗶𝗰𝗶𝗮𝗹𝗹𝘆 𝗿𝗲𝗰𝗼𝗴𝗻𝗶𝘇𝗲𝗱 filing system which 𝗮𝘂𝘁𝗼𝗺𝗮𝘁𝗲𝘀 𝗳𝗶𝗹𝗶𝗻𝗴 𝗽𝗿𝗼𝗰𝗲𝘀𝘀, within the system itself, contact us to arrange for a demo/trial!
Contact us now at:
✉️ sales.sg@autocountsoft.com or call
📞 +6591441373 or WhatsApp at: https://wa.link/u0jkdm
📞+6582982690 or WhatsApp at: https://wa.link/u2avd6
🇸🇬

#GST Rate Change tips

“My company receives an invoice in 2️⃣0️⃣2️⃣3️⃣ for imported goods that is due to reach Singapore ON / AFTER 1 Jan 2024”

~ What is the GST rate payable on the import❓

According to IRAS: The Singapore Customs collects the GST for imports. For imports on/ after 1 Jan 2024, the GST rate of 9% would be imposed

And, 𝗧𝗼 𝗮𝘂𝘁𝗼𝗺𝗮𝘁𝗲𝘀 𝗳𝗶𝗹𝗶𝗻𝗴 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 𝗮𝗻𝗱 𝗺𝗶𝗻𝗶𝗺𝗶𝘇𝗲 𝗲𝗿𝗿𝗼𝗿? Contact AutoCount today, officially recognized by 𝗜𝗥𝗔𝗦 as the 𝗧𝗜𝗘𝗥-𝟯 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗽𝗿𝗼𝘃𝗶𝗱𝗲𝗿 in the ASR+ listing.

Reach us for Free consultation to learn more, as well as find the solution which suits your company best!👍

Reach us at
✉️ sales.sg@autocountsoft.com or call
📞 +6591441373 or WhatsApp at: https://wa.link/u0jkdm
📞+6582982690 or WhatsApp at: https://wa.link/u2avd6





🇸🇬 #tax #Singapore #singaporetax #taxreporting #sffs #seamlessfiling #mytax #singaporeGst #Gstratechange #accounting #accountingsoftware #autocount #iras

#GSTRateChange Consumers who come across cases of unjustified price increases of essential goods or services that use the GST increase as a cover can provide their feedback to the Committee Against Profiteering (CAP) at www.cap.gov.sg/shareyourfeedback. All feedback submitted will be reviewed by CAP, and further investigated if necessary, to identify businesses that may have engaged in unjustified price increases on the pretext of the GST increase.

For more information, please visit CAP’s website.

#GST Rate Change tips

“Can I charge 9️⃣% GST on all invoices issued on or after 1 Jan 2024 for administrative ease, 𝗿𝗲𝗴𝗮𝗿𝗱𝗹𝗲𝘀𝘀 of the payment received date?”

The factors determining which GST rate is to be applied in your invoicing are:
a) when payment is received from your customer
b) when goods are delivered/ services are performed for your customer.
If you have received payment from your customer in 2023, it will be 8%. as the time of supply has been triggered before 1 Jan 2024.

Still facing difficulty during transition period or in tax filing?
AutoCount Accounting has been the 𝗙𝗜𝗥𝗦𝗧 𝗦𝗢𝗟𝗨𝗧𝗜𝗢𝗡 in Singapore which has been selected as the 𝗧𝗜𝗘𝗥 𝟯 solutions provider by 𝗜𝗥𝗔𝗦 , provides businesses with assurance that the software is compliant with local authorities requirements. ⚖️

Ready to enjoy the benefits AutoCount Accounting brings you or want to know if our solution match your expectation? 🎉

Contact us at:
✉️ sales.sg@autocountsoft.com or call
📞 +6591441373 or WhatsApp at: https://wa.link/u0jkdm
📞+6582982690 or WhatsApp at: https://wa.link/u2avd6


🇸🇬 #tax #Singapore #singaporetax #invoicing #taxreporting #sffs #seamlessfiling #mytax #singaporeGst #Gstratechange #accounting #accountingsoftware #autocount #iras

#GST 𝗥𝗮𝘁𝗲 𝗖𝗵𝗮𝗻𝗴𝗲 𝗧𝗶𝗽𝘀

3 Common Errors, a reminder from IRAS.

𝗘𝗿𝗿𝗼𝗿 #𝟭 - Charging GST at 9% 𝗯𝗲𝗳𝗼𝗿𝗲 1 Jan 2024
- Your payments received before 1 Jan 2024 should be subject to the current rate of 8%. This is so even if the goods and/or services are to be delivered on or after 1 Jan 2024.

𝗘𝗿𝗿𝗼𝗿 #𝟮 – Charging or displaying GST at 8% 𝗳𝗿𝗼𝗺 1 Jan 2024
- Keep in mind that mou may have multiple sales channels (e.g. mobile apps, self-ordering kiosks, physical outlets and online websites) where you display prices.

𝗘𝗿𝗿𝗼𝗿 #𝟯 – GST amount is computed correctly but wrong GST rate is reflected on 𝗿𝗲𝗰𝗲𝗶𝗽𝘁𝘀/𝗶𝗻𝘃𝗼𝗶𝗰𝗲𝘀 issued.
- Check that the correct GST rate is reflected when you issue receipts/invoices. Such checks should be performed when testing systems and processes before and after the implementation of 9% GST.

🏆 𝗠𝗶𝗻𝗶𝗺𝗶𝘇𝗲 𝗲𝗿𝗿𝗼𝗿 𝗮𝗻𝗱 𝗮𝘂𝘁𝗼𝗺𝗮𝘁𝗲 𝗚𝗦𝗧 𝗿𝗲𝘁𝘂𝗿𝗻𝘀 𝘀𝘂𝗯𝗺𝗶𝘀𝘀𝗶𝗼𝗻 (𝗙𝟱, 𝗙𝟴) process with AutoCount Seamless Filing! 🏆 A solution 𝗼𝗳𝗳𝗶𝗰𝗶𝗮𝗹𝗹𝘆 𝗿𝗲𝗰𝗼𝗴𝗻𝗶𝘇𝗲𝗱 𝗯𝘆 𝗜𝗥𝗔𝗦 𝗮𝗻𝗱 𝗔𝗖𝗥𝗔!
Contact us for more info and free consultation!
Reach us at
✉️ sales.sg@autocountsoft.com or call
📞 +6591441373 or WhatsApp at: https://wa.link/u0jkdm
📞+6582982690 or WhatsApp at: https://wa.link/u2avd6


🇸🇬 #tax #Singapore #singaporetax #taxreporting #sffs #seamlessfiling #mytax #singaporeGst #Gstratechange #accounting #accountingsoftware #autocount #iras

⛄️Wishing you and your family health, happiness, peace and prosperity this Christmas and in the coming New Year. 🎁

Merry Christmas~ 🎄🎅🔔

#GST Rate Change tips

So with the GST changing into 9️⃣% on 1st January 2024.

“How if 𝗴𝗼𝗼𝗱𝘀 𝗿𝗲𝘁𝘂𝗿𝗻 𝗮𝗳𝘁𝗲𝗿 2-3 years of GST rate change?”

😎 According to IRAS, You should issue credit note(s) to adjust the GST at the rate that was originally charged and accounted for.
For example, if you had supplied goods and charged GST at 7️⃣% in 2022 and the goods were subsequently 𝗿𝗲𝘁𝘂𝗿𝗻𝗲𝗱 𝗶𝗻 2️⃣0️⃣2️⃣4️⃣, you should issue credit note(s) to adjust the GST at 7️⃣%.

Finding difficulties to file tax returns? Opt for AutoCount Accounting Seamless-Filing now🏆, an officially recognized filing system which automates filing process, within the system itself, without needing to access portal, contact us to arrange for a demo/trial!
Contact us at:
✉️ sales.sg@autocountsoft.com or call
📞 +6591441373 or WhatsApp at: https://wa.link/u0jkdm
📞+6582982690 or WhatsApp at: https://wa.link/u2avd6

🇸🇬 #tax #Singapore #sffs #seamlessfiling #mytax #singaporeGst #Gstratechange #accounting #autocount #iras

#GST Rate Change

Last year, over 𝟭𝟬𝟬’𝟬𝟬𝟬 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝘁𝗿𝗮𝗻𝘀𝗶𝘁𝗲𝗱 smoothly for GST Rate Change.
𝗜𝗥𝗔𝗦 reminds all business to ensure that their system are ready to incorporate the new 9% GST rate with effect from 1 Jan 2024.

ARE YOU READY FOR THE SECOND GST RATE CHANGE?

😎𝗪𝗼𝗿𝗿𝘆 𝗡𝗼𝘁!

𝗧𝗼 𝗮𝘂𝘁𝗼𝗺𝗮𝘁𝗲𝘀 𝗳𝗶𝗹𝗶𝗻𝗴 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 𝗮𝗻𝗱 𝗺𝗶𝗻𝗶𝗺𝗶𝘇𝗲 𝗲𝗿𝗿𝗼𝗿, contact AutoCount today!! A solution officially recognized by 𝗜𝗥𝗔𝗦 as the 𝗧𝗜𝗘𝗥-𝟯 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗽𝗿𝗼𝘃𝗶𝗱𝗲𝗿 in the ASR+ listing. Reach us for Free consultation to learn more, as well as find the solution which suits your company best! 🧐

Reach us at
✉️ sales.sg@autocountsoft.com or call
📞 +6591441373 or WhatsApp at: https://wa.link/u0jkdm
📞+6582982690 or WhatsApp at: https://wa.link/u2avd6


🇸🇬 #tax #Singapore #singaporetax #taxreporting #sffs #seamlessfiling #mytax #singaporeGst #Gstratechange #accounting #accountingsoftware #autocount #iras

#GST Rate Change

How if I want to 𝗮𝗯𝘀𝗼𝗿𝗯 the 𝗚𝗦𝗧 𝗳𝗼𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀?💰

💡 According to 𝗜𝗥𝗔𝗦, to maintain competitiveness and customer goodwill, you may choose to absorb the GST payable by your customer.
In doing so, you have to treat the sum of money received from your customer as inclusive of GST.

📊 However, The tax invoice should still show the GST as a separate amount. If you issue receipts or simplified tax invoices, state the GST-inclusive prices and indicate with: "Price payable is inclusive of GST".

For an automated, simpler filing 𝗽𝗿𝗼𝗰𝗲𝘀𝘀, at the same time minimizing error, contact AutoCount today!! A solution officially recognized by 𝗜𝗥𝗔𝗦 as the 👌 𝗧𝗜𝗘𝗥-𝟯 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗽𝗿𝗼𝘃𝗶𝗱𝗲𝗿 in the ASR+ listing.👑

Reach us for Free consultation well as find the solution which suits your company best!

Reach us at:

✉️ sales.sg@autocountsoft.com or call
📞 +6591441373 or WhatsApp at: https://wa.link/u0jkdm
📞+6582982690 or WhatsApp at: https://wa.link/u2avd6

#GSTRateChange Heading to the 24-hour store to grab some post-NYE party essentials in the wee hours of 1 Jan 2024? #DidYouKnow that you may only be charged GST at 8% on your purchase, if it is the supplier’s normal accounting practice to treat sales made after midnight as sales of the preceding day!

👉🏼 Click here for more info on the transitional rules for the rate change

#GST Rate Change

Scenario:

A sales invoice has been 𝗶𝘀𝘀𝘂𝗲𝗱 𝗶𝗻 𝗗𝗲𝗰 𝟮𝟬𝟮𝟯 📄 and the goods will be delivered in 𝗝𝗮𝗻 𝟮𝟬𝟮𝟰📦. If the customer paid in Dec 2023, GST will still charge at 8% on the payment made even though the goods are delivered in Jan 2024.

However, if the customer is going to pay the invoice in Jan 2024, we as the supplier is required to charge 9% on the payment made even though the invoice is issued in Dec 2023.

There are ✌️ 𝟮 𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝗲 𝗮𝗰𝘁𝗶𝗼𝗻𝘀 can be done by users as the supplier:
1. Supplier can collect the additional 1% GST from the customer by issuing an additional invoice. ➕
2. Supplier can absorb the additional 1% GST themselves. 📥

~

👑 𝗙𝗢𝗥 𝗔𝗨𝗧𝗢𝗖𝗢𝗨𝗡𝗧 𝗔𝗖𝗖𝗢𝗨𝗡𝗧𝗜𝗡𝗚 𝗨𝗦𝗘𝗥𝗦, 𝗯𝗼𝘁𝗵 𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝗰𝗮𝗻 𝗯𝗲 𝗱𝗼𝗻𝗲 𝗮𝗻𝗱 𝗿𝗲𝗰𝗼𝗿𝗱𝗲𝗱 𝗲𝗮𝘀𝗶𝗹𝘆!

Wish to know how?

💬💬 𝗣𝗠 𝘂𝘀 𝗻𝗼𝘄! A detailed guide file on how to manage both options in Accounting V2 will be delivered over to you!

🇸🇬

#InvoiceNow tips

✅ 𝗜𝗻𝘃𝗼𝗶𝗰𝗲𝗡𝗼𝘄 connects everyone within 𝗣𝗘𝗣𝗣𝗢𝗟 Network, allow instant send and receive of digital invoices.

But what exactly is 𝗣𝗘𝗣𝗣𝗢𝗟 ❓

According to IMDA, Peppol is an international E-Document delivery network and business document standard form of Electronic Data Interchange (𝗘𝗗𝗜) allowing enterprises to digitally transact with other linked companies on the Network. 📡

Want to catch up the trend and transact efficiently and get paid faster? 💵💴💶💷💰Reach us for more details of getting on-board with 𝗜𝗻𝘃𝗼𝗶𝗰𝗲𝗡𝗼𝘄!

𝗥𝗲𝗮𝗰𝗵 𝘂𝘀 𝗮𝘁:
✉️ sales.sg@autocountsoft.com or call
📞 +6591441373 or WhatsApp at: https://wa.link/u0jkdm
📞+6582982690 or WhatsApp at: https://wa.link/u2avd6


🇸🇬 #einvoicing #peppol #singaporeinvoice #imda #accountingsingapore #invoicesme #sme

#InvoiceNow tips

Is the InvoiceNow network secure?
Absolutely 𝗬𝗘𝗦!!

1️⃣ Only Peppol certified Access points are registered on the network and are authorised with a PKI certificate issued by the governing authority.

2️⃣ All data being transmitted on the network is protected with SSL transport layer security that it only goes through securely encrypted pipes.

3️⃣ Data being transmitted is signed using the Access Points Service Provider (AP) authorised PKI certificate to ensure that the data is genuine.

4️⃣ Any receiving Access point will check the signature of the sending Access point to ensure that it is the authorised one registered on the network.

⏱ Start invoicing easier, safer, complete the cycle in a blink and 𝗴𝗲𝘁 𝗽𝗮𝗶𝗱 𝗳𝗮𝘀𝘁𝗲𝗿! 💵💴💶💷💰

Reach us for more details of getting on-board with InvoiceNow by IMDA!

𝗥𝗲𝗮𝗰𝗵 𝘂𝘀 𝗮𝘁
✉️ sales.sg@autocountsoft.com or call
📞 +6591441373 or WhatsApp at: https://wa.link/u0jkdm
📞+6582982690 or WhatsApp at: https://wa.link/u2avd6