The term "GST" stands for "Products and Services Tax," and it refers to a comprehensive tax levied on the production, sale, and use of goods and services. The GST is well known for offering a long chain of set-off benefits to producers as well as to service providers and retailers at all levels. The training for the GST is essentially a tax only on value-adding at every level, and a dealer is entitled to deduct at each stage with the aid of a tax credit method, but the taxable event is "delivery of services" and "supply of commodities." The GST paid on the purchase of goods and services, as well as the GST that is available for set-off on the GST, must be paid on the delivery of both products and services. The final customer will only be responsible for paying the GST that the last broker in the supply chain assessed, with set-off benefits at every level in between. In a GST company, there is no distinction between commodities and services as they flow down the supply chain.
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