The weakness on US dollar has once again created another surge on gold price. The possible further weakness on the greenback and the rumours about countries are in discussion about using other currencies and gold rather than US dollars as trade settlements have further pushed up the gold price.
This prompt me a question, why are we charged with the goods & services tax (gst) while purchasing gold since it's considered a kind of 'currency' in trade. The gold is a currency in trade since thousands year ago and countries are considering gold as a payment mode nowadays, I wondering why we're still charged with the gst while there just a exchange of 'currency' instead of purchasing a goods.
Of course, the price of a gold jewellery includes the price of gold and the cost of workmanship, I have no problem to pay the gst for the workmanship, maybe not gold.
Hopefully when gold gradually become another popular mode of international trade settlements, people will realise the right price they should pay for.
No comments:
Post a Comment