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What Is Meant By Goods and Services Tax (GST)? - How Does GST Work?

Goods and Services tax or GST is a tax that customers must pay upon the consumption of goods and services like clothes, food, everyday items, etc. It is an indirect tax that is levied on businesses providing these goods and services but is paid by the customers. An indirect tax is a tax that is levied on one party, but the burden of the tax ultimately falls on another party. Businesses include the GST amount into the price of the product they are selling. Thus, the GST amount is paid by the consumers as it is passed down to them by the manufacturers. #whatisGST #Goodsandservicestax #GSTexplained #GSTbill #GSTreturn #kalkinemedia To get more updates about Australia, NZ,UK & Canada stock market news, investors education & insights subscribe our channel at https://bit.ly/3cHKioy About us: Kalkine Media’s You Tube Channel is a one stop shop for all related news, updates, expert views, business insights etc. Catch ASX Daily market commentary, trending news stories for the day, market movers, stock information, top research stories, expert insights and much more only on Kalkine Media’s You Tube Channel. Check out our media Website 👉 https://kalkinemedia.com/au Follow us and stay updated on the Go with the Stock Market 👇👇 Facebook -   / kalkineau   Twitter -   / kalkineau   LinkedIN -   / 4829818