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Correct. Most financial reporting doesn't count GST collected as revenue. There are circumstances where this isn't true but generally it's booked as a liability

• thaumasiotes 10y ago
  > Correct. Most financial reporting doesn't count GST collected as revenue. You seem to be assuming that, if GST was zero instead of 15%, the prices consumers paid for Apple products would be 13% lower than they are now, and that despite these lower prices no additional purchases would occur. Why?
  • sitharus 10y ago
    Because that's not how I understood your question. I interpreted it as asking if GST is included as part of revenue then expensed. This is not the case as GST is a tax collected on behalf of the government so it is always regarded as a liability. As to what you intended, perhaps. Perhaps not. I'm not an expert in sales of Apple products, you'd need market research to see if a 13% discount would result in an appreciable amount of sales.