Meaning & use

GST

abbreviation·Everydayfinancebusiness

Last updated

UK/ˌdʒiː es ˈtiː/
US/ˌdʒi ɛs ˈti/

Meanings

  1. abbreviationuncountablefinance

    Goods and services tax: a tax added to the price of most things people buy, collected by sellers and paid to the government.

    Grammar: Usually no article: the price includes GST.

    Patterns

    • GST on something
    • price including GST

    The price on the tag includes GST.

    Businesses with high sales must register for GST.

    GST on food is lower than on luxury goods in some countries.

  2. abbreviationuncountablespecialist

    In astronomy and timekeeping, Greenwich sidereal time, a star-based measure of time at the Greenwich meridian.

    Grammar: Specialist use; context decides which meaning is intended.

    The astronomer converted the observation to GST.

    Telescope logs note the GST at the start of each session.

Common combinations

include GST
Do these prices include GST?
charge GST
The shop charges GST on all items.
register for GST
Freelancers may need to register for GST.
GST refund
Tourists can claim a GST refund when leaving.
GST-free
Basic groceries are GST-free in that country.

Synonyms and how they differ

VAT
This is the value-added tax used in the UK and EU, and works in a similar way but is not named the same.
sales tax
This is charged only at the final sale to the customer, as in most US states, while GST is collected at each stage.
consumption tax
This is a broader category into which GST falls.

Word family

tax noun
money paid to the government
taxable adjective
subject to tax
GST-registered adjective
officially listed to collect GST

Commonly confused: GST or VAT? GST or PST?

GST vs VAT

VAT is a similar tax in Europe. The abbreviations are not interchangeable even though the idea is alike.

GST vs PST

PST is a provincial sales tax in some Canadian provinces, charged separately from GST.

Practice

The menu says all prices include GST. What does this mean?

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