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0 points2Gkashmiri2y ago0 comments

Gst is indirect sales tax on goods and services. Indian gst is modelled after Canadian gst/hst if you know that.

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I think I know it as simply sales tax and some USA states have it and some don't.

Thank you.

ska2y ago

It's not a sales tax, it's similar to a VAT but doesn't just compound.

So I suspect that if you are manufacturer, you pay it on your raw materials, you collect it on your finished goods, and there is a credit system in place so it effectively passes through.

detourdog2y ago

Thank you for the clarification. Is it used to keep manufacturers from wasting materials?

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detourdog2y ago

I think I know it as simply sales tax and some USA states have it and some don't.

Thank you.

ska2y ago

It's not a sales tax, it's similar to a VAT but doesn't just compound.

So I suspect that if you are manufacturer, you pay it on your raw materials, you collect it on your finished goods, and there is a credit system in place so it effectively passes through.

detourdog2y ago

Thank you for the clarification. Is it used to keep manufacturers from wasting materials?

1 more reply

j / k navigate · click thread line to collapse