All goods bought from overseas will face a 10 per cent goods and services tax from July 2017 under a landmark deal agreed to by state and territory treasurers.

But the GST on tampons and sanitary products will remain after the treasurers from Liberal Party states including NSW argued against its removal, killing the idea.

At Friday's tax summit, the treasurers agreed that goods bought from overseas should face exactly the same GST as goods bought in Australia.

This means that foreign businesses with a turnover of less than $75,000 will be exempt from the requirement to collect it in the same way as are small Australian businesses.