GST: Edit.
Haha please note. Don't believe what I have said in the previous entry without checking or asking around.Apparently GST works on a concept which prevents cascading, i.e. the tax is only bourned by the end consumer. The party who needs to pay GST as part of his cost in order to provide the goods and services which are taxable are eligible for tax credits that is supposed to offset that part of the cost. So 2% is 2%.
I forgot to at least check Wikipedia before wasting my time last night looking through my mum's calculations :P
Labels: Policy and Politics
