Recent GST Audits by IRAS

Key requirements

The page reports more than 2,700 audits and S$226 million recovered including penalties for FY2025/2026; these are period-specific results, not an estimate of future audits. Its fund-manager case shows that performance-based fees remain consideration for services, regardless of the calculation method. Another business wrongly used credit notes for unsold-inventory cost adjustments unrelated to any actual earlier supply, understating output tax. A group restructuring case confirms that transfers between separate related companies are not automatically ignored. The non-genuine input-claim example stresses proof of actual purchases and missing-trader risks. Reconcile financial revenue to GST supplies, link every credit adjustment to an original transaction, and document intercompany transfers. Qualifying voluntary disclosure can have lower penalties than an IRAS-discovered error.