Taxes subsumed into GST
Posted on : 30 Nov 2019Views: 785
At the Central level, the following taxes are being subsumed:
- Central Excise Duty,
- Additional Excise Duty,
- Service Tax,
- Additional Customs Duty commonly known as Countervailing Duty, and
- Special Additional Duty of Customs.
At the State level, the following taxes are being subsumed:
- Subsuming of State Value Added Tax/Sales Tax,
- Entertainment Tax (other than the tax levied by the local bodies), Central Sales Tax (levied by the Centre and collected by the States),
- Octroi and Entry tax,
- Purchase Tax,
- Luxury tax, and
- Taxes on lottery, betting and gambling.
Article Related Questions
Which of the following central taxes have been subsumed under Goods and Services Tax?
1.Basic Customs Duty
3.Additional Excise Duty
Select the correct answer using the code given below:
2.1 and 3 only
3.2,3 and 4 only
4.1,2 and 3 only
Right Ans : 2, 3 and 4 only