What Does GST Stand For?

GST stands for Goods And Services Tax Australia Canada And Other Countries

GST, or Goods and Services Tax, refers to a value-added tax levied on most goods and services sold for domestic consumption in various countries, including Australia and Canada. It is designed to streamline the tax system by consolidating multiple taxes into a single consumption tax, promoting efficiency in tax administration and compliance. GST is typically charged at each stage of the supply chain, with businesses able to claim credits for taxes paid on inputs, ultimately passing the tax burden onto the final consumer.

Other Meanings for GST