Credit note GST Singapore - what to include
When a GST-registered business issues a credit note and which details it should carry.
A credit note reduces or cancels an earlier invoice, for example after a return, a price adjustment or an error. For GST-registered businesses in Singapore, IRAS expects a credit note to show an identifying number, the date of issue, the supplier's name, address and GST registration number, the customer's name and address, the number and date of the original tax invoice and a description sufficient to identify what is being credited. It also needs the amount credited and the GST adjustment. Keep the credit note with the original invoice in your records.
- Unique credit note number and date.
- Reference to the original tax invoice number and date.
- Supplier's and customer's details, and GST registration number.
- Description and amount credited, with the GST adjustment.
How it works
Find the original tax invoice and note its number and date.
Create the credit note with its own number and date, and the same parties as the original.
Describe what is credited and show the amount before GST, the GST and the total credited.
Report the adjustment in your GST return for the period as IRAS guidance requires.
Send the credit note to the customer and keep a copy for five years.
Legal framework
- IRAS: Invoicing as a GST-registered business.
- IRAS: Record Keeping Guide for GST-Registered Businesses.
- Goods and Services Tax Act 1993 and the GST (General) Regulations.
- IRAS e-Tax Guide: GST General Guide for Businesses.
Frequently asked questions
Do I need a credit note or can I edit the invoice?
A tax invoice already issued should not be silently changed. A credit note, and a new invoice if needed, keeps a clear trail. Ask IRAS or an adviser about special cases.
Is a credit note also part of InvoiceNow data?
According to IRAS, the invoice data to be submitted under the GST InvoiceNow requirement includes data on credit notes for businesses in scope.
Who reports the GST adjustment?
The supplier adjusts its output tax and the customer adjusts its input tax, in the relevant GST returns. IRAS explains the timing.
Does 4invoices create credit notes?
4invoices is built for creating invoices with tax per line and PDF download. Confirm in the app how to record a correction. It does not submit credit notes to IRAS or adjust your GST return.