Singapore implemented the main standard GST rate change among the countries covered by GSTCalculator.net in 2024. India also changed the treatment of several specific goods and services.
Singapore: standard GST increased to 9%
Singapore increased its standard GST rate from 8% to 9% on 1 January 2024, completing the two-stage increase that began in 2023.
Source: Inland Revenue Authority of Singapore – current GST rates
India: targeted rate reductions
India retained its broader multi-rate GST structure during 2024. Among the year’s targeted changes, GST on three specified cancer medicines was reduced from 12% to 5%, while certain extruded or expanded savoury products moved from 18% to 12%.
Source: Government of India – recommendations of the 54th GST Council meeting
What did not change?
No standard-rate changes were identified in 2024 for Australia, Canada’s federal GST, Jersey, Jordan, the Maldives, New Zealand or Papua New Guinea.