Business or trade has become an essential part of the world history. The desire to explore trade has led many people to travel from one country to another doing voyages to find more partners to trade, which thereby changed the entire demographic world.
The world which we are a part of thrives on trade and the government across globe have tried to find ways to use this trade for its utmost utilization. Hence, because of trade, sale and purchases of goods or services also takes place. It means that Sales Tax is also paid to the governing body on the basis of the sale of services and goods. Sales tax is type of indirect tax which is levied on purchase or exchange of certain goods which are taxable. It is charged on the percentage of valuation of goods. The rates or slabs are governed by the preceding government after enforcing the individual policies which are generally simple and easy to calculate and collect. Inlay man’s term, the sales tax is the amount which is additionally levied while purchasing goods and services.