GST
Goods and Services Tax
A tax applicable to certain goods and services transactions, including some property transactions.
Detailed Explanation
Goods and Services Tax, commonly called GST, is an indirect tax that may apply to certain real estate transactions depending on the nature, type and status of the property and prevailing tax regulations.
In Plain Terms
GST may be an additional cost when buying certain types of properties. Whether it applies depends on what exactly you are buying and the current tax rules.
Tax applicability and rates can change and should be verified under current laws and regulations.
Related Terms
This definition is provided for general informational purposes only and is not legal, financial or tax advice. Property rules and authority policies can change — verify current requirements with the relevant authority or a qualified professional.