goods and services tax exemptions

Goods and Services Tax (GST) exemptions refer to specific goods and services that are not subject to GST, simplifying pricing and reducing costs for consumers. These exemptions are typically applied to essential items or services such as basic food, healthcare, education, and certain financial services, aiming to support affordability and social welfare. When a good or service is exempt, businesses do not charge GST on it, and these items are usually listed separately on receipts. Exemptions help target relief to critical areas while maintaining the overall revenue needed for public services.