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

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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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diploma in computer engineering

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
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Tutor

Tax paid on sale of goods or services .
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Tutor

Tax charged on inter state sale of goods
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Tutor

Tax paid to government on sale of goods and services .
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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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GAME CHANGER OF MATH AND SCIENCE

Tax added on buying price after giving discount on main price
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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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Maths Teacher

Money that is charged by government on goods & services.
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