How does the GST work?

What you need to do for GSTregister for GST.work out whether your sales are taxable (that is, subject to GST, and not exempted because they are GST-free or input-taxed) and include GST in the price of your taxable sales.issue tax invoices for your taxable sales and obtain tax invoices for your business purchases.More items... read more

Use the GST calculator External Link on ASIC's MoneySmart website to calculate GST and work out how much GST is included in a sale. Generally, businesses registered for GST will include GST in the price of sales to their customers and claim credits for the GST included in the price of their business purchases. read more

How Does GST Work Businesses making taxable supplies have to be registered under GST if their annual sales turnover has exceeded the prescribed threshold. Only a registered person can charge and collect GST on the taxable supplies of goods and services made by him. read more

GST rates: GST rates on goods and services have been classified into broadly four tax rates: 5 per cent, 12 per cent, 18 per cent and 28 per cent. Some goods and services have been exempted. Precious metals like gold will attract a separate tax rate of 3 per cent. read more