SEIKO-PEDIA - Info on buying from overseas, GST, Shipping

Post up your articles and reviews for future references
Locked
User avatar
roo7
IT Superman
Posts: 6863
Joined: 10 Apr 2011 22:05
Location: Singapore
Contact:

SEIKO-PEDIA - Info on buying from overseas, GST, Shipping

Post by roo7 » 02 Sep 2014 09:46

This article is a work in progress.

1. GST.

Yes, buying watches that cost more than SGD400 in CIF value (Cost, Insurance & Freight) will attract GST.

Collection of GST also depends on the type of freight used. For example:
SingPost: You will receive a letter indicating that payment of GST is required at the Customs office at SingPost Paya Lebar, so you have to make payment there to release the goods.

Fedex, DHL: They usually ship and send you an invoice for GST + admin fees of $10+, so you have to make payment to them directly, most accept Internet Banking transfers.

Guidance from Customs: http://www.customs.gov.sg/leftNav/trad/ ... rcels.html" onclick="window.open(this.href);return false;

Discussion thread: viewtopic.php?f=15&t=6210" onclick="window.open(this.href);return false;

2. Type of freight to choose
Usually, we don't have the luxury to choose, unless sellers are flexible. Most ship via normal post or registered post, while others only trust a Fedex and DHL.

Normal post: Cheapest option but don't offer recipient acknowledgement, usually "free" or included. Nobody use this to ship watches.

Registered post: Affordable option, recipient acknowledgement, insurance but usually don't cover watches and up to a very small amount. Suitable for watch parts, straps, tools and watches maybe below $1000 or your comfortable range. Price ranges around $5-20 depending on package size and weight.

EMS: Slightly more expensive but offer a faster shipping with more insurance coverage. Prices ranges around $30-50 depending on package size and weight.

Fedex/DHL: The most expensive option, Prices ranges around $40-60 depending on package size and weight.

Last updated: 2014-09-07
Not as active.
blog: http://jiehong.org/
Locked