Shops, Merchants And Businesses Absorbing The GST Hike In 2024

After years of delays, the Goods and Services Tax (GST) in Singapore has advanced to 9%. Here are the shops and businesses heroically holding the line for consumers by absorbing the 1% increase. 

We all knew it was coming, but it’s still a bitter pill to swallow – GST has finally increased to 9% in 2024. It’s a difference of only 1%, sure, but given the alarming levels of inflation seen in 2023, it’s still a worrying development. Also, “9” is the last single-digit number and after that comes *gasp* double-digit GST!

Thankfully, some of our favourite brands, stores and merchants have stepped up to offer some relief from the relentless march of cost-of-living increases, absorbing the 1% GST increase on everything from eyewear to furniture to pantry sundries and daily necessities.

So if you’re looking for a way to rein in your expenses, you might want to keep the following shops top of mind.

Table of contents

• List of shop, brands and merchants absorbing the 1% GST increase in 2024
• Best dining and grocery credit cards

List of shop, brands and merchants absorbing the 1% GST increase in 2024

Giant 

Supermarket chain Giant is absorbing the 1% GST increase across 700 items in its stores from Jan to June 2024. For maximum impact, the discounts will be applied on everyday necessities, including fresh produce, personal care, and household essentials. 

While undoubtedly helpful, the GST absorption will only last for the first six months of the year. Hence, it may be prudent to start stocking up on your favourite household goods to extend your savings that much further. 

NTUC FairPrice

Similarly, supermarket chain FairPrice is also absorbing the GST hike on behalf of consumers. This will cover 500 everyday essentials, including fresh goods and groceries, as well as national and house brands. 

The GST absorption will last for the first six months of the year, and applies for all retail stores, including FairPrice Finest and FairPrice Online. 

Sheng Siong

Sheng Siong is offering a 1% discount across all its stores islandwide, so as to offset the GST increase for shoppers. The discount will only last until 31 March 2024, but senior citizens can continue to enjoy 4% savings at all outlets until 31 Dec 2024. 

Decathlon

Sporting goods and accessories retailer Decathlon is another household brand name that is absorbing the GST hike this year. It promises you can enjoy the same low prices at its outlets as before in your pursuit of a sport-oriented lifestyle. 

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Owndays

Japanese eyewear retailer Owndays also announced it will absorb the 1% GST hike in 2024, with no expiry date as yet. Thus, customers can continue to enjoy top-quality eyewear and accessories without having to pay more this year. 

Changi Airport

A selection of GST-registered retailers at Changi Airport will continue to absorb 100% GST on their prices. That’s to say, you do not have to pay GST at all when shopping at participating shops located in the public areas of Terminals 1 to 4.

To enjoy this privilege, you’ll need to sign up as a Changi Rewards member, which comes with other perks and privileges including free parking and airport lounge access. 

IKEA

Everyone’s favourite Swedish furniture giant IKEA will also be absorbing the GST hike this year. This was announced with a 21 December 2023 notice that all current prices would be frozen until further notice, so it looks like we’ll all be able to continue enjoying trendy furniture at wallet friendly prices for a while yet. 

Brotherbird Bakehouse

Here’s another reason to love Brotherbird Bakehouse, well beyond their light and buttery croissants and other treats, that is. The bakery has announced a 2% GST absorption to help consumers continue enjoying its fresh-baked goods. That’s a 1% discount on top of absorbing the GST hike!

Overrice

Mediterranean rice bowl specialists, Overrice, has stated it will keep its prices the same in 2024, which means absorbing the 1% GST instead of passing it on to consumers. That’s great news for fans of the eatery looking for tasty and affordable meals in the vicinity of Sultan Gate. 

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Saizeriya

Popular Japanese-Italian fast-food restaurant Saizeriya is known for their no-fuss meals at budget-friendly prices. The chain, which does not impose a service charge, has announced it would continue to absorb GST in 2024 – which means you can continue to dine there without extra charges.

Yakiniku Like

Casual Japanese-style grill outler Yakiniku Like is another mass-market chain that waives iGST and service charges. Hence, you know where to go to satisfy your craving for quality grilled meats without taking a big chunk out of your wallet. 

Habitat Coffee

Everyone knows a coffee habit can be expensive. Quickly adding up to a substantial amount by the end of the week. Good thing then that Habitat Coffee is continuing to waive GST and service charges for its clients, allowing you to squeeze in one more cuppa before your budget runs out.

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Best credit cards for dining and grocery shopping

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