???
Cost of rice increase, cost of eggs increase so no need to increase price? why cost of food stuff increase? transportation cost up so how business cost will not increase? Company buy stationery cost increase because the supplies have to add 2% gst more. I too layman I can't understand your argument. GST by definition is Goods and Services Tax, meaning anything that you buy from whether goods or services that you pay increases consumer pay more, that was what TS was stating, of course business cost goes up, like many businesses they buy services and goods from others so their cost goes up as well, I layman can also understand this.
So, this is the best you can do to counter?
I think you should then tell that to the establishment as that is what they plan to do from what I read in yesterday's paper ST Page 4 "Bigger payouts for poor to be given out earlier". In case you plan to use this to counter my earlier post, please note my query is how much of the % of surplus was given back? my real gist is why make surpluses by increasing 2% gst when inflation is reported to increase to levels not seen before in more than 10yrs? It does not makes sense to me to have people feeling the squeeze and we have huge surpluses from taxes.
yes, you are uninformed
just like most of the population
Why Should I Register?
* Most businesses register for GST to claim back the GST incurred on their business purchases.
* When GST paid exceeds GST collected, the difference can be claimed from IRAS as a GST refund.
* When GST collected exceeds GST paid, you have to pay the difference to IRAS.
* When GST rate increase, it may make business sense to voluntarily register to collect GST in order to claim back GST incurred on business purchases.
source - sounds very fair to me
if you still do not understand, if my inputs are $1.07, and i sell my product for $2.14, collecting $0.14 gst, and paying $0.07 gst.. then i give the $0.07 excess to gahment
compare this to previous scenario, inputs will be $1.05 (assuming base price same), and i sell my product for $2.10, collecting $0.10 gst, and paying $0.05 gst.. then i give $0.05 excess to gahment. by right, in both cases, my profit still remains the same. $1 profit.
converse is true if gst paid exceeds gst collected, i get to claim the difference.
one could argue that oh, the $1 profit collected is less than before, so businesses have to jack up their profits.. since the $1 is now exchangeable for less goods. so initially $1 will get you $1/1.05 worth of goods, now i need about $1.019074blah to get the same amount of goods in the past. so i just have to charge $2.16. so firstly, the businesses actually do not suffer, if they register for gst; and secondly, the consumers do not suffer as much as it seems - a raise of 2 cents (all amounts being equal in proportion) is in actuality 0.9% increase across the board in pricings, IF the businesses are transparent and fair. but they are not. and all this is blamed on the government; your fishball noodle seller might have registered for gst, since he has nothing to lose.. but he doesn't tell you that, he tells you that "oh no, overheads increase, tada, i charge you 50 cents more".. and people kbkb.
the funniest part is, azul, i remember posting this argument with similar source before in response to threads you were active in; either you must have forgotten, or you do not bother to read.
i am amused by your response to my response. the best you can do, is scoff at my response, instead of offering anything to counter it? bravo!
well, the administration will do what it will; there is a trend of starting to bend to the demands of the people, i do wish it was not so.