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GST Assisted Self-help Kit (ASK) Review Services in Singapore

Package Fee for GST ASK Review Services

 

Packages Available Fee (SGD)
ASK Annual Review From $3,000 (W/GST $3,270)

 

What is GST Assisted Self-help Kit (ASK)?

GST Assisted Self-help Kit (ASK) ReviewASK is a self-assessment package which is designed to help GST-registered entities effectively manage their compliance. 3 key aspects are focused:

  • Put in place GST Practices comprising People, Record-Keeping, Systems and Internal Controls to properly handle the GST reporting of the entities’ transactions;
  • Assess through a Pre-Filing Checklist to ensure GST returns are correct before submission; and
  • Conduct Annual Review of past GST returns for early detection of errors.

 

Who require to perform ASK Review?

GST-registered entities may adopt ASK on a voluntary basis.
However, conducting ASK is compulsory if you are applying for any of the following GST schemes:
a) Import GST Deferment Scheme (IGDS);
b) Approved Marine Customer Scheme (AMCS);
c) Approved Contract Manufacturer and Trader (ACMT) Scheme;
d) Approved Refiner and Consolidator Scheme (ARCS);
e) Major Exporter Scheme (MES); or
f) Approved Import GST Suspension Scheme (AISS).
or if you are renewing any of the following schemes:
a) Import GST Deferment Scheme (IGDS);
b) Major Exporter Scheme (MES); or
c) Approved Contract Manufacturer and Trader (ACMT) Scheme.
The ‘ASK’ Annual Review must either be performed by:
i) an individual accredited with Singapore Institute of Accredited Tax Professionals (“SIATP”) as Accredited Tax Advisor (GST) [ ATA (GST) ] or Accredited Tax Practitioner (GST) [ ATP (GST) ] or
ii) the GST-registered business and certified by an individual accredited with SIATP as ATA (GST) or ATP (GST), in adherence to the certification procedures set out in the GST ASK Annual Review Guide.

 

Benefits of adopting ASK Review

You will enjoy the following benefits:
a) Understand GST requirements on filing and record-keeping;
b) Review accuracy of GST submissions;
c) Reduce risks of incurring penalties on errors made;
d) Discover past GST errors early for timely disclosure to IRAS, and hence enjoy zero or reduced penalties under IRAS’ Voluntary Disclosure Programme; and
e) Qualify for specific GST schemes mentioned above.

 

What can be done by 3E Accounting?

3E Accounting can support and work with you at all stages of the ASK process. The process is listed as follows:

  • Enhance your entities’ GST compliance level by reviewing your business processes and recommend areas where you can improve on
  • Support you in performing a review of your GST declarations, based on the pre-filing checklist provided by IRAS
  • Support you in conducting the ASK review for your past GST returns
  • Support you in conducting the ASK review to facilitate your various GST Scheme application.

For a customized quotation, please email us at info@3ecpa.com.sg.