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kns
02-07-2009, 09:33 AM
I am just starting out with my new retail business (outside US) and am looking at buying bulk volume products from an IT distributor in Singapore. This is my first and so am completely new to the shipping & importing experience. I have just received their price list for most of the products that I require but what I am confused is about the GST that they mention on their quote. How do I calculate this - be it for a single item or for the whole delivery package?
Also how would I calculate the shipping charges from Singapore? I understand this would be something depending on the category of items that are imported, the quantity and import regulations in my country(have this information already).
But I guess what I am trying to figure out is a 'rough figure' beforehand so that a total budget can be worked out to import the goods and how the GST & shipping would affect the prices of each product.
Is it just a few countries that impose the GST tax or is it just called under different names in different countries?
In short, I would be asking for some advise on any general issues, charges, etc. that I most importantly need to be aware of while going through the whole import process. Thanks.

billbenson
02-07-2009, 10:15 AM
I don't know what GST is, but be very careful. I export from the US, not import. That being said their is a fair amount of fraud in Singapore. I get nigerian scam type orders from there frequently. Just be careful.

kns
02-07-2009, 10:24 AM
I don't know what GST is, but be very careful. I export from the US, not import. That being said their is a fair amount of fraud in Singapore. I get nigerian scam type orders from there frequently. Just be careful.

Thanks for the caution bill. I am definitely trying to play safe, especially when you hear most of the scam stories happening in that part of the world.

seolman
02-07-2009, 07:56 PM
It is likely GST simply stands for General Sales Tax. They probably just sent you a quote on a standard form they use for their local customers. You shouldn't have to pay any GST on an exported item from Singapore. I suggest you send them an email and let them know you need a CIF price for their goods (cost including insurance & freight) to your destination not including custom clearance. You could also ask for a cost door to door and they can get a price from their Singapore shipping company to deliver the goods right to your door, duty paid. It's a bit more difficult for them to do but it would save you a lot of hassles and let's them know you are serious.

If the order is not substantial it may be hard to get them to quote a CIF or door to door price depending on the size of the supplier. I used to buy a lot of materials out of Singapore - if you push them you can almost always get a better price.

kns
02-08-2009, 01:00 AM
It is likely GST simply stands for General Sales Tax. They probably just sent you a quote on a standard form they use for their local customers. You shouldn't have to pay any GST on an exported item from Singapore. I suggest you send them an email and let them know you need a CIF price for their goods (cost including insurance & freight) to your destination not including custom clearance. You could also ask for a cost door to door and they can get a price from their Singapore shipping company to deliver the goods right to your door, duty paid. It's a bit more difficult for them to do but it would save you a lot of hassles and let's them know you are serious.

If the order is not substantial it may be hard to get them to quote a CIF or door to door price depending on the size of the supplier. I used to buy a lot of materials out of Singapore - if you push them you can almost always get a better price.


Wonderful tips seolman. Thanks!! That is almost the kind of info I was looking for - something that would tell me how much it would cost when the goods get here. I didn't know something like a CIF existed until now and I guess I really wasn't sure on what questions to ask them and make this sound like an amateur order. I will contact them to see if they can get me a quote for CIF.

FYI, you are right, GST is kind of an indirect sales tax on consumption and someone else told me that it stands for 'Goods & Services Tax' and is much the same as VAT (Value Added Tax). In most countries, GST is only added for LOCAL buyers, not for offshore or international customers (Hope this helps anyone else who is looking for the same info too).
But thanks again!

kns
02-08-2009, 01:12 AM
I left this out in my first post but they also mention something like a 2T pricing & MAP Pricing on their quote. Any idea what that is about?

seolman
02-09-2009, 04:47 PM
I left this out in my first post but they also mention something like a 2T pricing & MAP Pricing on their quote. Any idea what that is about?

Never heard of these....