Malaysia Watch Forum
Main Forums => General Discussion - Modern Watches => Topic started by: TheWatchMan on July 09, 2014, 10:44:06 PM
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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.
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Buy from grey dealer. No GST.
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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
:-X
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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
:-X
love the malaysian customs, anyone can go thru without being checked :thumbsup:
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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.
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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.
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BUY NOW before GST kicks in ..... BUY BUY BUY or else BYE BYE BYE :Laughing_on_floor: :Laughing_on_floor:
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Yeah there's another good excuse to load stocks ;D
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Buy from grey dealer. No GST.
+1
And also service watches at non-authorised service centre, also no GST, hopefully :Praying:
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I am afraid GST will affect all businesses including grey dealers… unless they opt-out of GST which doesn't make sense.
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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. :Startled:
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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
:-X
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 !
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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?
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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
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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
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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
:-X
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 ;D
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Then BBB mode loh.
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Do you think GST coming next year, will the price will go up for all watches .
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Planing to get one more stowa from Germany... Now.. Sigh...
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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 :police:
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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.
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Definitely the prices will increase. :Mad:
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Grey dealer shouldn't have get, but AD will impact for sure
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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.
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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.
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less than 500k or more than 500k, you still need to register, because...
your supplier will charge you 6% GST even though your annual turnover less than 500k, and you can't claim the input GST if you are not registered and are you kind enough not to charge your customer without the 6% ?
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I think there may be 2 perspective.
1) If you are a service provider then you wont need to claim back any GST since you are the producer your self such as advertising creative agency, cleaning agency for eg.
2) if you are a trader/ distributor/ selling stuff which are produced by someone, then you need a GST account to claim back the GST which your product supplier sell to you with the GST included unless they are below 500K which I think it a very low chance and you maybe dealing with many suppliers then it will even be slimmer chance unless all also newly setup manufacturers.
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I believe buying from AD, grey dealer and oversea will cost more after the GST implementation.
To tackle this, BUY NOW, or buy pre-owned from our fellow private collector here, sure no GST :D
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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.
For authorized dealer with ready stocks, there is the sense of urgency, but, grey / pre-owned not so much.
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Most probably buy from other country and claim back VAT or GST. Hahaha
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We can ask foreigner to buy for us and claim back GST
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My grey dealer friends said that buy whatever watches that u want latest by dec 2014..Coz they'll start to raise it gradually to factoring the GST even b4 April 2015 since they are expecting the demand will increase as the GST date of implementation goes nearer..I don't really understand the logic as I just saw it like another chance of "milking" the situation..Whatever it is I have a few "targets" of my own that I intend to complete it by the end of 2014..GST or not!!
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Well this will be a good excuse for us to add some new piece to the collection :Laughing_on_floor:
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Well this will be a good excuse for us to add some new piece to the collection :Laughing_on_floor:
however the wife won't agree :HammerHead:
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GST is not friendly to watch collectors. Hope to get 1 or 2 before year end.
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As long as before April 2014 can already la
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Bought a watch before the GST take place! hahaha