20 July 2012
A furniture retailer in Singapore, Silver River Furniture Pte Ltd (“Silver River”) has been charged in court and ordered to pay a total fine of $4,000 for four charges of failure to comply with GST (General) Regulations on price-displays. Another two similar charges were taken into consideration.
Following a tip-off, IRAS found that two of Silver River’s advertisements in the Straits Times showed pictures of furniture and prices together with a small print stating, ‘All prices exclude delivery & GST’. Some of the items in its showroom and an advertisement posted on the company website had also not complied with the price display requirements under GST (General) Regulations.
Despite receiving a few warnings from IRAS for similar offences in the past, Silver River had repeatedly failed to comply with GST price display requirements.
GST-registered businesses must show GST-inclusive prices on all displays, advertisements, publications and quotations to the public, whether quoted verbally or in writing. The only exception is businesses in the hotel and food & beverage industries.
The above offence carries a maximum penalty of $5,000.
Source: Inland Revenue Authority of Singapore (IRAS)