GST
Abbreviation with 3 meanings
| Stands for | Goods and services tax |
|---|---|
| Meanings | 3 |
| Categories | Business & Finance, Units & Measurements, Law & Legal |
GST has three meanings. The most common are Goods and services tax (tax) and Gulf Standard Time (time zone); it can also stand for Generation-skipping transfer tax.
Meanings of GST at a glance
| # | GST stands for | Context |
|---|---|---|
| 1 | Goods and services tax | Business & Finance › Tax |
| 2 | Gulf Standard Time | Units & Measurements › Time Zone |
| 3 | Generation-skipping transfer tax | Law & Legal › Estate and Family Law |
1. Goods and services tax
Business & Finance · Tax Abbreviations
Value-added tax known by this name in Canada, Australia, New Zealand, Singapore, India and other countries, charged on most goods and services and credited back to registered businesses on their inputs. Rates include 5% in Canada, 10% in Australia, 15% in New Zealand and 9% in Singapore.
Example: The quote is AUD 2,200 including GST.
Canada introduced its federal GST in 1991 and Australia in 2000. India's GST, launched on July 1, 2017, replaced a tangle of central and state levies and is split into CGST, SGST and IGST components; its rate structure was simplified in September 2025. Some Canadian provinces merge GST with their own sales tax as the HST.
2. Gulf Standard Time
Units & Measurements · Time Zone Abbreviations
Year-round time of the United Arab Emirates and Oman, four hours ahead of UTC. Dubai's role as an airline hub makes GST one of the most common zones on international itineraries.
Example: The Dubai Financial Market opens at 10:00 GST.
Neither country observes daylight saving. Nearby Saudi Arabia, Qatar and Bahrain use UTC+3 (Arabia Standard Time), an hour behind. GST also abbreviates South Georgia Time (UTC−2) and, in business, goods and services tax.
3. Generation-skipping transfer tax
Law & Legal · Estate and Family Law Abbreviations
Federal tax on transfers to "skip persons", typically grandchildren or others two or more generations younger, whether by gift, at death or through trusts, in addition to any gift or estate tax. Each person has an exemption equal to the estate tax exemption.
Example: The trust allocates GST exemption so the grandchildren can inherit without a second layer of tax.
Imposed by Chapter 13 of the Internal Revenue Code at the top estate tax rate, currently 40 percent. Dynasty trusts in states that have abolished the rule against perpetuities use GST exemption to shelter wealth for many generations. In Canada, Australia and India, GST instead means goods and services tax.
Related abbreviations
More tax abbreviations
- FICA – Federal Insurance Contributions Act tax
- FIT – Federal income tax
- FTC – Foreign tax credit
- FUTA – Federal Unemployment Tax Act tax
- GSTIN – Goods and Services Tax Identification Number
- HOH – Head of household
- HST – Harmonized sales tax
- IHT – Inheritance tax
See all 116 tax abbreviations →
More time zone abbreviations
- EET – Eastern European Time
- EST – Eastern Standard Time
- ET – Eastern Time
- GMT – Greenwich Mean Time
- HKT – Hong Kong Time
- ICT – Indochina Time
- IDL – International Date Line
- IRST – Iran Standard Time
See all 64 time zone abbreviations →
This entry is for general education and is not legal advice. Abbreviation use varies between institutions; always confirm in context.