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Who is responsible for collecting GST?
Practice Questions
Q1
Who is responsible for collecting GST?
The consumer
The seller
The government
The accountant
Questions & Step-by-Step Solutions
Who is responsible for collecting GST?
Steps
Concepts
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.
No concepts available.
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