Meaning of the word gst in English

What does gst mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

gst

US /ˌdʒiː.esˈtiː/
UK /ˌdʒiː.esˈtiː/

Abbreviation

Goods and Services Tax: a tax that is added to the price of goods and services

Example:
The price includes GST.
You have to pay GST on most purchases.