General Sales Tax


Also found in: Acronyms.

General Sales Tax

A sales tax applied to all goods and services sold in a jurisdiction that are not specifically exempted. For example, a general sales tax may be implemented at the local level on all goods and services except groceries in order to finance municipal government. See also: VAT.
References in periodicals archive ?
The performance penalty is calculated based on the total consideration specified in the contract, the general sales tax on the supply of equipment and installation of the sum of the rate of 30%.
Under the Plan-B, the government would keep standard General Sales Tax (GST) rate at 17 per cent, while in the RGST the government had to decrease it to 15 per cent.
One logical implication, then, from Rothbard's position is that someone who consumes but does not produce is unaffected by the imposition of a general sales tax.
Across the nation, the general sales tax is the second most important type of tax at the state level, representing about 33 percent of total state tax revenues.
The general sales tax is the largest source of state tax revenue, providing almost 33 percent of such funds in 1989.
First, it shows that even though the state collects no general sales tax revenue (because it doesn't have a general sales tax), this potential source of revenue as measured by tax capacity is second only to property taxes in Montana.
The study reveals that the discriminatory travel taxes and fees enacted on travel-related services - often to fund unrelated local projects - impose an average increased cost on visitors of 56% over general sales tax.
The statement of objects and reasons states: "Whereas, post 18th Constitutional Amendment, the subject of General Sales Tax on Services has been devolved to the provinces in pursuance of which each province has established its own independent revenue authority for efficient collection of the General Sales Tax at its end.
5 billion of the general sales tax to the highway fund right away as well as a portion of future motor vehicle sales taxes beginning in 2020, Pickett and Nichols confirmed.
The recent show of a little decline in petroleum, oil and lubricant (PoL) prices was perhaps a shock to the federal government and hence they did not wait for a moment in depriving the masses of that little relief in terms of POL products and imposed 5 percent general sales tax on POL prices, which was tantamount to sacking all the little relief.
A latest data of Pakistan Telecommunication Authority (PTA) on Sunday revealed that General Sales Tax (GST) forms the major part of the contribution with Rs57.
10, 2012 /PRNewswire-USNewswire/ -- Discriminatory travel taxes and fees enacted on travel-related services impose an average increased cost on visitors of 57% over general sales tax, according to new research released by the GBTA Foundation, the education and research arm of the Global Business Travel Association (GBTA).
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