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GST comprises which types of tax

sanjeev kumar (10 Points)

04 April 2017

what type of tax is abolished or replaced by GST.

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lucky goyal (student) (22 Points)
Replied 04 April 2017

CENTRAL TAXES TO BE SUBSUMED IN GST

It is deduced that the following Central Taxes should be, to begin with, subsumed under the Goods and Services Tax:

Central Excise Duty (CENVAT),
Additional Excise Duties
The Excise Duty levied under the Medicinal and Toiletries Preparations (Excise Duties) Act 1955
Service TaxAdditional Customs Duty, commonly known as Countervailing Duty (CVD)
Special Additional Duty of Customs – 4% (SAD)Surcharges and Cesses levied by Centre are also likely to be subsumed wherever they are in the nature of taxes on goods or services. This may include cess on rubber, tea, coffee, national calamity contingent duty etc.Central Sales Tax to be phased out.

STATE TAXES TO BE SUBSUMED IN GST

Following State taxes and levies would be, to begin with, subsumed under GST:

VAT / Sales taxEntertainment tax (unless it is levied by the local bodies)
Luxury taxTaxes on lottery,
betting and gambling
State Cesses and Surcharges in so far as they relate to supply of goods and services
Octroi and Entry Tax