The Inland Revenue Authority of Singapore (IRAS) has published an updated version of its e-Tax guide GST: Advance Ruling System (Tenth Edition) on 15 July 2024. This e-Tax Guide explains the GST advance ruling system and the application procedures. Essentially, taxpayers seeking clearer understanding and certainty regarding how specific provisions of the GST Act will apply to a particular business arrangement or transaction can apply to the Comptroller of GST (CGST) for an advance ruling under section 90A and the Fifth Schedule of the GST Act. Such advance rulings, issued in accordance with these provisions, are legally binding on the CGST.
An advance ruling is a written decision provided by the customs or tax authorities to traders upon request, prior to a transaction. It sets forth the authorities’ interpretation on how specific provisions will apply to a particular business arrangement or transaction.
The latest edition of the e-Tax Guide introduces an update by including a new example in paragraph 3.2.2 that illustrates scenarios where the CGST is unable to issue an advance ruling.
