Description

The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.

GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services. It is a multi-stage, destination-oriented tax imposed on every value addition, which managed to replace multiple indirect taxes, including VAT, excise duty, service taxes, etc.

For the 2020 base year (payment period from July 2021 to June 2022), you could get up to: $456 if you are single. $598 if you are married or have a common-law partner. $157 for each child under the age of 19.GST paid by the taxpayers goes to the central and state governments and acts as a main source of revenue to run the country. In simpler terms, GST money go to the Government for run the country.