Which of the following taxes have been replaced by the GST Indicate the correct code: (A) Central Excise duty (B) Service tax (C) Taxes on advertisements (D) Duties of Excise-Medicinal and toilet preparations Choose the correct answer from the options given below:?

(A), (B), (D) only
(A), (B) only
(B), (C), (D) only
(C), (D) only

LohaHridoy

7 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 1 : (A), (B), (D) only

The correct answer is (A), (B), (D) only

Goods and Services Tax

GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services.
It is a multi-stage, destination-oriented tax imposed on every value addition, replacing multiple indirect taxes, including VAT, excise duty, service taxes, etc

GST would replace the following taxes currently levied and collected by the Centre:-

a) Central Excise Duty

b) Duties of Excise (Medicinal and Toilet Preparations)

c) Additional Duties of Excise (Goods of Special Importance)

d) Additional Duties of Excise (Textiles and Textile Products)

e) Additional Duties of Customs (commonly known as CVD)

f) Special Additional Duty of Customs(SAD)

g) Service Tax

h) Cesses and surcharge in so far as they relate to supply of goods and services.

Hence, option 1 is correct.

7 views Answered 2022-09-04 04:29

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