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Class 10 > What do you mean by sales tax?
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What do you mean by sales tax?

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+2 Sales Tax and VAT

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For example, if you purchase a new television for Rs. 400 and live in an area where the sales tax is 7%, you would pay Rs. 28 in sales tax. Your total bill would be Rs. 428. It is important to note that sales tax is not revenue that the seller gets to keep. The seller is simply collecting the tax as...
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For example, if you purchase a new television for Rs. 400 and live in an area where the sales tax is 7%, you would pay Rs. 28 in sales tax. Your total bill would be Rs. 428. It is important to note that sales tax is not revenue that the seller gets to keep. The seller is simply collecting the tax as part of their agreement to do business in that city or state. Every month or quarter the seller will have to prepare forms and pay in the money they collected for taxes to the state or local government. read less
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Sales tax is an indirect tax which in imposed by the government on the sale of goods. It is collected by the retailer and passed on to the Government.
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Home tutor

A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow (or require) the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually...
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A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow (or require) the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption of certain goods or services from sales and use tax. read less
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Teaching Magician

A sales tax is a tax paid to a governing body for the sales of certain goods and services.
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Trainer

It is a consumption tax which is levied on the sale of goods and services, collected by the retailer and subsequently passed on to the government.
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Math Magician

Sales tax is levied on the sale of a commodity, which is produced or imported and sold for the first time. If the product is sold subsequently without being processed further, it is exempt from sales tax. Sales tax is paid by every dealer on the sale of any goods made by him in the course of inter-state...
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Sales tax is levied on the sale of a commodity, which is produced or imported and sold for the first time. If the product is sold subsequently without being processed further, it is exempt from sales tax. Sales tax is paid by every dealer on the sale of any goods made by him in the course of inter-state trade or commerce. read less
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Sales tax is a consumption tax imposed by the government on the sale of goods and services. A conventional sales tax is levied at the point of sale, collected by the retailer and passed on to the government.
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Home Tutor

A sales tax is a consumption tax imposed by the government on the sale of goods and services. A conventional sales tax is levied at the point of sale, collected by the retailer and passed on to the government. e.g: the central. sales tax act, 1956.
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Accounting And Maths Teacher

It is a duty levied on sale of goods.
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Internal Auditor, Financial Analyst

The tax levied on the sale of a commodity is called sales tax. In case of sales within a state, VAT is levied. In case of inter-state sales (i.e sales out of the state), CST (Central Sales Tax) is levied. In view of the GST implementation, these all taxes shall be combined into a common form of tax for...
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The tax levied on the sale of a commodity is called sales tax. In case of sales within a state, VAT is levied. In case of inter-state sales (i.e sales out of the state), CST (Central Sales Tax) is levied. In view of the GST implementation, these all taxes shall be combined into a common form of tax for sales as well as services. read less
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