I have been paying attention to the numerous huge advertisements by the many industry players in the red hot lasik market in Singapore. Prices of lasik is definitely on a downtrend and possibility of hitting sub-$1,000 per eye for standard lasik is very real. (someone told me the limit has been breached already)
In today’s national paper, I notice a lasik provider has now included the GST-inclusive price of $2,341.16 into the advert albeit in a smaller font size.
In the heat of competition, perhaps many have forgotten the small detail of the need to place GST-inclusive prices.
What is the Law?
According to reg 77(1) of GST regulations, “where a taxable person publicly displays or advertises the price of any supply of goods and services he makes, or intends to make, it has to be the “GST-inclusive” price.
Any exception to this law must be approved by IRAS.
While such taxable persons may not be sufficiently in tune with all details, I wonder whether the advertising agents or media owners should play a role in removing such “printing errors or omissions”.