Our company sells equipment parts to local companies. Our supplier is in overseas. Can our local customers directly import the goods from our overseas supplier themselves after we have sold them the products?
Imported goods are subject to GST and/or duty payment. A customs permit is required to account for the import and tax payment of the goods.
The new buyer should be the party declaring the payment permit. The value of the goods would be the last selling price (LSP), which is the transaction value from the sale between the new buyer and their supplier.
Related questions
Goods will be imported into Singapore, and the consignee shown on the invoice is a foreign-registered company. Can a Singapore-registered company pay the GST on behalf of the foreign-registered company?
Our customer has purchased some goods from overseas, but the supplier is unable to act as the shipper on the shipping document. Can our customer act as both the shipper and consignee on the shipping document, and issue the invoice and packing list for the importation of goods into Singapore?
My supplier overseas intends to send me an item to replace the one I had sent back to them for repair under a temporary export permit as it was covered under a warranty. Is GST payable on the replacement item?
What are the Goods and Services Tax (GST) accounting procedures for goods that are consumed or given away, which were not returned to the approved warehouse?
Need more help?
Get in touch