The Importance of Hiring Expert IT Office Relocation Movers in Singapore
GST Rate Revisions Update
In Budget 2022, the Minister for Finance announced that the GST rate will be increased from:
7% to 8%, with effect from 1 Jan 2023; and
8% to 9%, with effect from 1 Jan 2024.
Following this, we wish to inform you that eVantage Technology will be charging Goods and Services Tax (GST) as per the guidance below:
If invoice issued and full payment is received or the supply is fully performed before 1 Jan 2023, the supply is subject to 7% GST.
In all other circumstances, part or full value of the supply will have to be adjusted to 8% GST from 1 January 2023. A credit note will be issued for the initial invoice charged at 7% and a new tax invoice will be issued for applicable revised GST rate based on the transition rules from IRAS.
If you have any queries, please contact firstname.lastname@example.org for clarifications.