ECON 3450 Project 1 - GROUP 6 ( GST effect household and business)
As. We know Jessie, actually, repeats. The SSD. Which, is effective. In the first effort, 2017. With 6%, our standard, rate okay. The, requirement, for the business to. Be paid, for jesting, if the annuals. Decibels. Turnover. Is exceeding. 500,000. K do, you know that this, 160. Countries. Implement. GST, or vit except. For me and MA and also. Brunette, s at, 21st. February, 2017. This is. 435,000. 109. Number of GST. Registered okay. Basically the. Total revenue, the period for, 2017. If 42, billion compared. To the previous, year which, is only 41, billion. Okay. There, are a few types of attention. For the GST, such as transportation, private. Education, private health care child care. Finance. Financial. Financial. Residential. Property and and also, invest, investment. On the precious metal, okay. Do you know that actually my, name is the one company, the. In. The. Morning. I. Like. Me, baron. What. I presented. During a 50 simple chesty oh I. Think, I can use, this money for other things. Based. On consumption, Curie if price. Is higher, people. May not be able to afford as much as they used to as a result. They will consume, less, it. Means decrease. The consumers. Purchasing, power. There. Will be two kinds of tax. Sarita. Is not from the manufacturing, tax, they. Need to pay but they transfer, the transfers. Are taxed, to the consumer, so the price of, the clothes is higher. Very. Affect. The. Company. Which are more digitally. Then can yes. The customer. Now. Basic. Economics, Quran. So. The. Opinion was coconut parts we're getting a postcard est, kept at the customer the piece the. Tango only company, Cinderella. There. Is a. Given. Dose. Mr. kendama. The capital. City collective, are you talking, about. Quality. And religion. Angle. Turkey. Day tomato, tomato, I can Koran. The again quran can. Don't Amala do. Not step straight there. I do some, damage. Taliban. Cosmo. Puffy, from behind. I'm Annina means team. Especially, some. Night. A step. I tell me incredulous tone, Tony, imagine, for. Cappuccino, a pop. I would imagine, imagine, Calculon, back it said tap item, sohcahtoa. At, Eton continence. Active item to, the. Paris young yeah. Yeah Stabila, messenger collected I get bigger polymer percent - Pablo person who tossed a item well, upon jst my soul shall I get that table I worry but the monastic. A believer percent likely to bully. Maintain her girl happy, Allah khuda ban at the, mosque. At the GSD, a little bit weaker. Than the effect, machine. Ba. Ba, ba. Over. Here. Sir. Memory need. Continuous. Tea tea turnip achieve our modern. Facility, occur. On the d-pad pasaron. The, reporter or a million, indeed. In Seattle, and soon the Tripoli. Tony, empathy trantric, are. Modeling. It yeah, do, located, well repairing, it Sarang. Tanaka, non EST, and adorns, the garden again full patita machine, la. Prohibited, you are turning for, petite. Your baby need, across the arena. Didn't. Want a positive number. What. Actually the object, is what's the business people, before. That the business people is actually the person who actively, involved, in the market industry in. Aiming, to generate the cash, was cells. And revenues so, what, actually did if, objects, the in terms of the culture, productions. It explains, clearly in the supply chain of productions, so, the process are it's started. From the, getting. The raw materials, in in, debt in, the retailers, shop which, is can, be sold to the customer so let's assume it is in the manufacturing, of the bridge so, in order to get the final goods fees which is the bread we, need, the raw, materials, so the cost of raw materials, and, let's assume it is one drink it and if.
It Is fall to the manufacturer, it becomes, wandering, it in six cents include, the GST, so, the sixth, sense is the. GST. Revenue, which, is will, be given to the government, as the villain, so. Next the manufacturing costs, let's assume, it is storing it and the. Selling price will be to ringing and 12 cents which is the person, is actually the GST. Collection, but. The government, will only collect six, cents from it as, the revenue, because, because. The, other six cents is actually, already, been paid by the manufacturer, to the supplier, then. The. Return of course, let's, assume, it is trading, and if. It is so it will be come, cheering, in $0.18, but the government, will, only collect six, and from it as the, person is, already, been fed to the government before, so. The. Total GST, collection, by the government, is actually a insane. Which is six percent from the, end price, so. Basically, the GST, itself has no compounding, effect but, it's. Caused, in. Increase. The cost of production which, leads to the decreasing. Of the revenue, of the businesses. Itself. My signal we, can work me. Poppy. Whatever. Say is um. To. The government. What. Would be. To. The consumer. To. It, can be implemented. But. I think the government to. Give. More, persistence. To the public okay, themselves. Maybe. If. When. You look at now we, have GST, the same time. Increasing. The price of fuel, because. Instantly for many, subsidized. Like those before so, it. Actually increased. But. There's a suffering of the people so, I think the, double need to, to. Give us. To. Give. Us what maybe, free education. Medication. If. The government, can convince, that the. The, public services. Improving. And. Do. It people, tend to spend, less due to the increasing. Price. GST. Was, introduced. In April, two, years ago. 2016. Well. From. Definitely. GST is taxed on consumption, basically. Liquid. Something, the whole chain of production, - well so as a result. The. Cost of production has gone up and. Consumers. If, you talk to people doing, business. They. Mentioned. That there are sales have gone down by 40% which, means, there's. A reduction of consumption by 40%. Estimating. Geszti huge, changes in terms of consumption, of goods and services compared. To SST. What do you think what. Is SST. Cents. A service or, the only one yeah. Yes. It does because GST, basically, the. Text is on, the whole chain of production so the cost really the small access. T is more only on consumption, sales. Services. So. It's a result definitely. It, has. Has. Significant. Implication. It, much more. Costing. It will be having more significant, impacts compared to 50 okay. They would do SST, is higher percentage. Wise but, because GST, is the whole range the, chain. The. Chain effect, is much more. Companies. Accelerate, this. Is. The increase your cost of living. Everything. You have to be thanks. Know a. Lot. Of people are especially. The v40 groups they. Are really. Do. You think is. Relevant to be implemented, now yes. It does I think even though it is increases, of course it's just it's not something new it. Has been implemented all over the world the. Good thing about DST, is that the. Government, is able to collect tax from. All, part. Of the economic. Problem. All economy. Activities. Production, and all services, so. Basically. Those. People, who have never actually paid the tax now are already paying tax and, even. Government, was actually surprised that they got in the first April. 2015. October. But yet they were surprised they got about 30 plus billion. You know so. It is a big chunk, of money and given that now I would, revenue. From petroleum, has gone down so it's really you, know and, I think it's important, because. With. Tax. If. You have good governance, with. This kind of text, if. It is used properly. Do. You think that is, the consumption. Of you few. But. Maybe the, flexible. Pricing on fuel have, some impact on the GSD, a subject, because as, you know demand, for petroleum is, very highly inelastic. Price. Because. We don't okay, with MRT, now coming in all these perceive is not we don't have close substitutes for trying, to be. On the motorbike I, don't. See I have not seen any data on it. But. I don't see based, on my. Observation. Of the road it will see much detective in the usage. Of and, I'd never heard people with low income complaining. About a full price but they complain, about other things petrol. Price mostly, they are not used to the flexible. Pricing now there. You. Know we don't have fixed price now. Do. You know that's, suggesting, if the button for people in rural area, and. This. Is and, that's the. Implementation. Of GST making them more difficult to buy it I. Think. Probably you know that for, basic necessities we, don't have GST.
Probably. Those who are most affected are those the v40 group in the urban. City. In the city area because. This is where you use a lot more services in, the rural area. Really. And to be frank, I really don't know I do I have not read by logically. Speaking I, would think they, don't have much implication, because you just think in terms of. We, see. The. Increased poverty level, in rural and. Also. Is, as I mentioned just now it affects a little bit before before, the groups. But. It's not just GST there are many other factors but, probably the, timing, as well you know the whole world economy, has got this slowdown a lot, of people are losing jobs. In. Plus, petrol. Prices now has gone up plus. GST, you, know so. I. Think. This but you have to look at a bigger picture than. GST, so generally. I think GST, is a good kind, of that is a, relevant, text to be post and it's high time that is, relation. Is actually turning even. Though politically is not popular. Economically. Speaking it, is. Do. You think that government, really use or utilize their. Fine from DST for the purpose of public use such. As providing sufficient benefits. To people. Sustaining. The infrastructure. From. That forward. Level from. That what we can see the level of happiness for, the other cities. It's. Very sensitive question, now the election, is coming. Okay. Put it this way basically, what, government have done is they have put EF, GST, so. They, know that the most affected group will be before tea so, through the v40 group they are giving cash and even though there's a lot of criticism on the cash handouts you, have you know about prima right so they have given out there so, sort of to cushion the, impact of, GST. Where. The government have used you know now government have cut down on a lot of. Budget. On a lot of basic, necessities. Hospitals. Schools universities. You know scholarship, all that kind of but. So. Probably they. Are saying. That because the economic, slowdown has actually reduced total, revenue, that they have I. Was. Hoping, that the GST. Tax. Collection, would be used, for, more productive. And. Going, to school even going, to kindergarten it's not cheap - it's much more expensive than what University so all these kind of things you know I mean. But, they have cut down unfortunately, budget you can see there. Is. Basic necessities, you know infrastructure. Yes but if recession come I. Believe. It's coming. In. Your opinion that's imposing, Jessica really have government, to, reduce the level of his cat efficient because as we know the, nation. Has, a magnificent continue. From, yes. Yeah. Budget deficits increased but still under is still, within the allowable. Limits. Budget, deficit is not necessarily bad but as long as you kept it. We. Have very. High debt. Because. You know when you collect money. Part. Of this money is used to be repay, the debt and. That. Level, is a significant, high significant, high so. A lot of money that is being collected is being channeled to that rather than. As. For, the confession, the, implementation. Of the GSD, keep, him back for a consumption, of her school and as, we know GSD. Is tax based on the consumption, and. The, more you consume the, more that you need to pay and most, of the businesses. Transferred. A testicle. To the customer, so, that they, need to pay more and miss on alpha, P is shown that many people were not happy by. The implementation, of the GSP it, said that she asked me increase, your cost of living especially. Photos, in low and, middle, and, end. The implementation. Of the chip has deep deep positive, impact, for the government, it, is because, it increased the class collection, to. Twelve point eight billion, as compared. The collection, from the SSD, precise, tests the. GSD collection, were expected. To increase, body, four point eight billion, in. 2013. And, in. Addition, the. Fiscal, deficit, a soap. Decreased. By 3.1. Percent, in 2016. And basically, government, will use the, test collation, in order, to govern. -, and provide, more of these foods to the society. I. Don't, know what it is. Waking. Up in this bad this is where, the wrong haircut, no silly. If. We lay that the day just Gus's bike. Might. Get too too much talk.