Warehousing is a very important element of every businessman they want to store some goods in a particular place these goods can be imported or are to be exported but they need some designated area in which they can be stored and this is why you need to pay some taxes for it but recently there is a zero gst warehouse scheme.
According to the scheme it allows the businesses to store the goods which are not dutiable. So based on the zero gst warehouse scheme, there is a license which is made by the government in which they have some terms and conditions applied for it. So if you are thinking that you need a warehouse in which you can store goods than you can look for a non GST warehouse in this article you will also know more about it.
The warehousing scheme
According to the scheme, there can be some goods in which there are no GST taxes leopard for using the warehouse in case of local use or consumption so you not to pay any type of tax when you want to export these goods or sell in the market.
There are overall three types of licenses which are found which has their own level which is dependent on the accreditation that is done by the company based on the licenses and their qualifications you will determine the type of level of license you should be applicable for.
If you want to qualify for the warehouse scheme then there is no revenue or anything which is registered under it you should have already registered under the government which the IRAS and you should have valid licenses from the customs accounts along with some good records of the Singapore customs department.
You should also have good stock recording skills which help in giving you better responsibility along with securities for your trading. Mostly for getting the annual license you will have to pay some fees that is pre decided by the government.
According to the government, you have to also follow some responsibilities which are related to payment of GST on all the goods along with giving your account ability to all the authority. Also when you have applied for it and you have registered then you will have been have custom supervision that will be happening to check that you are working according to the government scheme or not.
