PST, or Provincial Sales Tax, is a retail sales tax levied by certain provinces in Canada on the purchase of goods and some services. It is collected separately from the federal Goods and Services Tax (GST) and applies at different rates depending on the province.

As of now, PST is charged in provinces like British Columbia (7%), Saskatchewan (6%), and Manitoba (7%). Other provinces use a Harmonized Sales Tax (HST) system, which combines GST and provincial taxes into a single rate.

PST is typically applied to the end consumer, meaning businesses must charge PST on taxable sales and remit the collected amount to the provincial government. However, certain items like basic groceries, prescription drugs, and specific services may be exempt from PST.

Businesses must register for a PST account in provinces where they are required to collect it. They also need to file regular tax returns and keep accurate records of sales and tax collected.

PST is an important source of revenue for provincial governments and helps fund public services. Understanding PST is essential for businesses operating in applicable provinces to remain compliant and avoid penalties due to incorrect tax collection or reporting.