GST Exemption For Investment Precious Metals
GST Exemption for Investment Precious Metals
Individuals or businesses importing Investment Precious Metals (IPM) into Singapore are exempted from paying Goods and Services Tax (GST) if the IPMs meet the IPM Qualifying Criteria. Read more about the GST exemption for IPMs here.
Importers are required to take an In-Non Payment (GST Relief) Permit for the importation of IPMs by hand-carry, for commercial purposes.
If you are hand-carrying IPMs for personal use, please take note of the following:
- You are not required to take up a Customs permit for the importation of IPMs of a total weight not exceeding 0.5 kilogrammes.
- You are required to take up a GST relief permit before the importation of IPMs of a total weight exceeding 0.5 kilogrammes. The GST relief permit must be presented at the checkpoint for clearance.
Upon arrival, please proceed to the Customs Red Channel at the arrival hall after immigration clearance.
Please provide all details on the IPMs carried to the checking officer.
You are required to provide the supporting documents (e.g., Import Permit, Commercial Invoice(s), relevant certificates) to the checking officer for verification.