The import invoice shows the value of the item and also the overseas bank charges. Do these charges have to be included for GST computation?

Question

Accepted Answer

If the bank charges are part of the price paid or payable to the supplier for the goods when sold for export to Singapore, then the bank charges must be included for GST computation.

The import invoice shows the value of the item and also the overseas bank charges. Do these charges have to be included for GST computation?

Topics:

Related questions

An importer intends to hand-carry goods via Changi Airport but his invoice only shows the value of the goods without insurance and freight charges. How would the GST be computed?

What are the costs that should be factored in the declared value of goods that were sent overseas for processing and re-imported back to Singapore for GST computation purposes?

Is the Declaring Agent required to include additional tax and duty in the computation of GST if the invoice of my shipment included tax and duty incurred overseas?

My goods are arriving in Singapore soon and the importer has already paid the supplier for the goods. However, the importer has just received a revised invoice from the supplier and the price has been increased. Which invoice should be used for GST declaration?

Need more help?