Knowledge Base
    Tax & Compliance

    GST (Goods and Services Tax)

    A broad-based consumption tax levied on most goods and services sold in a country, commonly used in Australia, India, Canada, and New Zealand.

    More Details

    GST is functionally similar to VAT and is collected at each stage of production and distribution. GST-registered businesses can claim input tax credits for GST paid on business purchases. Rates vary by country—10% in Australia, 5% in Canada, and range from 0% to 28% in India with its multi-slab structure.

    Related Terms

    VAT (Value Added Tax)Tax InvoiceIncome Tax

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