GST

A value-added tax applied to most goods and services sold for domestic consumption in countries where it is enacted. Instead of taxing a product multiple times along the supply chain, GST is charged at each stage of production or distribution, with businesses receiving credits for taxes already paid. The result is a single, comprehensive consumption tax that simplifies compliance and reduces cascading taxation. Organizations operating in GST jurisdictions must charge, collect, remit, and report the tax accurately, often integrating GST calculations into their invoicing, ecommerce, and accounting systems.