SillyJellybean
SillyJellybean

GST is such a shit show

Today I sat with a small biz owner to figure out why he wasn't earning enough from his business. Turns out he wasn't accounting for GST twice (you need to do that if you are buying and selling forward as a trader).

Calculating GST amount itself on total invoice value is a nightmare when you account for other things like figuring out HSN-wise tax rates and logistics. And then splitting into two for state and central tax.

And he's still educated but weak at math and accounts. I can only imagine how much the average business owner struggles with their own accounting. Heartbreaking stuff.

10mo ago
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