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Who is responsible for collecting GST?

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What’s inside this PDF?

Question: Who is responsible for collecting GST?

Options:

  1. The consumer
  2. The seller
  3. The government
  4. The accountant

Correct Answer: The seller

Solution: 

The seller is responsible for collecting GST from the consumer and remitting it to the government.

Who is responsible for collecting GST?

Practice Questions

Q1
Who is responsible for collecting GST?
  1. The consumer
  2. The seller
  3. The government
  4. The accountant

Questions & Step-by-Step Solutions

Who is responsible for collecting GST?
  • Step 1: Understand that GST stands for Goods and Services Tax.
  • Step 2: Know that when a product or service is sold, the seller charges GST on the price.
  • Step 3: The seller collects this GST amount from the consumer at the time of sale.
  • Step 4: After collecting the GST, the seller is responsible for keeping track of the total amount collected.
  • Step 5: The seller then sends (or remits) this collected GST amount to the government as required by law.
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