Author Topic: Your view of watch prices post-GST (Read 12376 times)

TheWatchMan · « **on:** July 09, 2014, 10:44:06 PM »

With the impending GST coming in Apr 2015, how will it affect your spending on watches? Will you quickly buy some from your wishlist before GST? What is your view and your plan? I am thinking to get 1 or 2 before GST.

dpkong · « **Reply #1 on:** July 09, 2014, 11:15:37 PM »

Buy from grey dealer. No GST.

Yoda · « **Reply #2 on:** July 10, 2014, 04:36:47 AM »

Was told all watches came in from overseas will be subjected to GST e.g if purchase through online and even bring in pass the custom at the arrival hall.

Like what dpkong said he is right

kenji1903 · « **Reply #3 on:** July 10, 2014, 05:55:56 AM »

Quote from: Yoda on July 10, 2014, 04:36:47 AM

Was told all watches came in from overseas will be subjected to GST e.g if purchase through online and even bring in pass the custom at the arrival hall.

Like what dpkong said he is right

love the malaysian customs, anyone can go thru without being checked

D'Andy · « **Reply #4 on:** July 10, 2014, 08:01:54 AM »

I'm quite a fan of buying online as I've seen savings during previous purchases from Singapore, UK, Germany and Switzerland. With the upcoming GST, I guess it's time to pay our dues in due course then.

ck77 · « **Reply #5 on:** July 10, 2014, 08:17:08 AM »

As far as I know, all businesses are subject to GST.
Only exception of few, sadly watches are subject to GST, including ADs or grey dealers.

contender · « **Reply #6 on:** July 10, 2014, 08:55:25 AM »

BUY NOW before GST kicks in ..... BUY BUY BUY or else BYE BYE BYE

Yoda · « **Reply #7 on:** July 10, 2014, 09:37:40 AM »

Yeah there's another good excuse to load stocks

swleong · « **Reply #8 on:** July 10, 2014, 09:40:32 AM »

Quote from: dpkong on July 09, 2014, 11:15:37 PM

Buy from grey dealer. No GST.

+1

And also service watches at non-authorised service centre, also no GST, hopefully

panlex · « **Reply #9 on:** July 10, 2014, 01:57:19 PM »

I am afraid GST will affect all businesses including grey dealers… unless they opt-out of GST which doesn't make sense.

Calibr · « **Reply #10 on:** July 10, 2014, 08:58:09 PM »

Prices will go up, but discounts will be there to encourage business, as the market softens. Post GST, the buyers will generally wait and see, before business gets better.

ExplorerII · « **Reply #11 on:** July 14, 2014, 06:05:26 PM »

Quote from: Yoda on July 10, 2014, 04:36:47 AM

Was told all watches came in from overseas will be subjected to GST e.g if purchase through online and even bring in pass the custom at the arrival hall.

Like what dpkong said he is right

Just wear it on your wrist when you pass through customs and I think you should be fine. Although they might decide to check your bag for the box and receipt !

hidden830726 · « **Reply #12 on:** July 14, 2014, 10:34:08 PM »

Well, im no expert, but from my limited knowledge so far, i thought only businesses in Malaysia with revenue >500K will subject to GST? So if buy from oversea should not cost any GST?

chrisyen · « **Reply #13 on:** July 14, 2014, 11:19:12 PM »

there is GST import, which is 6%

applicable to all oversea product into malaysia...

so buying watches online will sure trigger this when it reach custom msia

kygan711 · « **Reply #14 on:** July 15, 2014, 05:56:26 PM »

This is what I learned from the gst seminar recently. If you :
-are conducting a business for profit
-located in Malaysia
- above or forecasted to hit 500k per annum

You need to register for gst account. So means they have to charge up the 6 percent on their selling price unless they don't give breakdown and absorb or just simply tell u a lame excuse that price of watch went up globally.

Do double check

kenji1903 · « **Reply #15 on:** July 17, 2014, 08:16:51 AM »

Quote from: ExplorerII on July 14, 2014, 06:05:26 PM

Quote from: Yoda on July 10, 2014, 04:36:47 AM
Was told all watches came in from overseas will be subjected to GST e.g if purchase through online and even bring in pass the custom at the arrival hall.

Like what dpkong said he is right

Just wear it on your wrist when you pass through customs and I think you should be fine. Although they might decide to check your bag for the box and receipt !

keep the receipt somewhere safe... i don't think they can tax you if its a gift

hidden830726 · « **Reply #16 on:** July 17, 2014, 11:15:19 AM »

Then BBB mode loh.

uncleben3232 · « **Reply #17 on:** August 19, 2014, 02:05:44 PM »

Do you think GST coming next year, will the price will go up for all watches .

hidden830726 · « **Reply #18 on:** August 19, 2014, 06:47:01 PM »

Planing to get one more stowa from Germany... Now.. Sigh...

Gigi · « **Reply #19 on:** August 20, 2014, 08:38:26 PM »

Well watch retailler going to get bad business cos they have gst onto their goods. For tourist still not a prob as they can reclaim the gst at airport.

Well if we bought watch in overseas and carry by hand back to malaysia should not have any problem cos they don really check. Hell i even bought 2 liters of whisky back and pass tru kastom like boss

ckoh · « **Reply #20 on:** August 20, 2014, 09:10:28 PM »

the price of the watch will be reduced, like in japan, after implementing gst for few months, the price of luxury items start to drop, because consumers slow down buying luxury items, but only benefit to tourist , they can get the gst refund when leaving the country.

JeepWH · « **Reply #21 on:** August 21, 2014, 07:18:04 AM »

Definitely the prices will increase.

Timeless · « **Reply #22 on:** August 21, 2014, 07:24:35 AM »

Grey dealer shouldn't have get, but AD will impact for sure

JPSP · « **Reply #23 on:** August 21, 2014, 07:30:46 AM »

Quote from: ckoh on August 20, 2014, 09:10:28 PM

the price of the watch will be reduced, like in japan, after implementing gst for few months, the price of luxury items start to drop, because consumers slow down buying luxury items, but only benefit to tourist , they can get the gst refund when leaving the country.

I doubt so.

Brands are controlling discounts and increasing their prices every year to beat previous year's revenue. ADs stuck in the middle of this. Tax will only benefit the government because tourists will not be able to claim the full tax amount when they leave Malaysia.

TJWN · « **Reply #24 on:** August 23, 2014, 07:55:34 AM »

Quote from: femann on August 21, 2014, 07:24:35 AM

Grey dealer shouldn't have get, but AD will impact for sure

IF only the grey dealer SALES volume for period of 12 month is less than 500k then he no need to register.

News:

Author Topic: Your view of watch prices post-GST (Read 12376 times)