Current Areas of GST Audits

Key requirements

Small refund value does not exempt a business from evidence checks. IRAS identifies unsupported invoices, blocked costs, household expenses and missing export documents, including businesses operating from home. Commercial-property disposal can create output tax even outside trading stock. Sole proprietors should reconcile all business activities rather than only one shop’s ledger. Missing-trader checks require reasonable due diligence; denied input tax can carry the stated 10% surcharge where the business should have known. Review the relevant area before filing and preserve the risk checks, stock and payments supporting the supply, not only the supplier’s invoice.