What are the taxes subsumed in GST?
Understand the Problem
The question is asking about the different types of taxes that are included under the Goods and Services Tax (GST). This is a high-level inquiry into the components of GST and how it consolidates various other taxes.
Answer
State VAT, Central Sales Tax, Luxury Tax, Entry Tax, Entertainment Tax, Advertisement Tax, Central Excise Duty, Additional Excise Duties, and Service Tax are subsumed under GST.
The taxes subsumed under GST include State VAT, Central Sales Tax, Luxury Tax, Entry Tax, Entertainment and Amusement Tax, Advertisement Tax, Central Excise Duty, Additional Excise Duties, Duties of Excise (Medicinal and Toilet Preparations), and Service Tax.
Answer for screen readers
The taxes subsumed under GST include State VAT, Central Sales Tax, Luxury Tax, Entry Tax, Entertainment and Amusement Tax, Advertisement Tax, Central Excise Duty, Additional Excise Duties, Duties of Excise (Medicinal and Toilet Preparations), and Service Tax.
More Information
GST was introduced to consolidate various indirect taxes into a single tax, simplifying the tax structure and eliminating the cascading effect of taxes on goods and services.
Sources
- What are the Taxes Subsumed Under GST? - Tax2win - tax2win.in
- Taxes Subsumed and Not Subsumed Under GST - ClearTax - cleartax.in
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