- Learn
Taxes to be subsumed under the GST
November 21, 2016 by
Ankan Bose
A bulk of the taxes will seize to exist once the GST comes into effect. Below is a list of taxes that will submitted:
Central Taxes:
- Central Excise Duty [including additional excise duties, excise duty under the Medicinal and Toilet Preparations (Excise Duties) Act, 1955]
- Service tax
- Additional Customs Duty (CVD)
- Special Additional Duty of Customs (SAD)
- Central Sales Tax ( levied by the Centre and collected by the States)
- Central surcharges and cesses ( relating to supply of goods and services)
State Taxes
- Value-added tax
- Octroi and Entry tax
- Purchase tax
- Luxury tax
- Taxes on lottery, betting and gambling
- State cesses and surcharges
- Entertainment tax (other than the tax levied by the local bodies)
- Central Sales tax ( levied by the Centre and collected by states)