Goods and Services Tax (GST)

Filed Under: Taxation

1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).


The GST is a 5 percent value-added tax applied to the vast majority of goods and services sold in Canada for domestic consumption. The GST does not apply to basic groceries, most medical services and devices, prescription drugs, residential rents, and exports.

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