Different Types of Indirect Taxes Included in GST And Its Benefits

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Different Types of Indirect Taxes Included in GST
and Its Benefits
A lot of taxes have accumulated in the ambit of
Goods and service tax which has been termed the
most ambitious tax regime and holds the
capability to fuel the economy of the nation.
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Continue.
The main purpose of the GST is to curb various
taxes levied currently on goods and service
across states and to rebuilt in one tax one
nation mode. Here we will talk about the
indirect taxes that will be included in GST and
its benefits in the GST regime.
G S T
THE CAIN PROJECT
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Example of GST under SGST and CGST
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Central GST(CGST) Taxes

• Additional Customs Duty, commonly known as
  Countervailing Duty (CVD)
• Central Excise Duty (CENVAT)
• The Excise Duty levied under the Medicinal and
  Toiletries Preparations (Excise Duties) Act 1955
• Additional Excise Duties
• Special Additional Duty of Customs 4 (SAD)
• Service Tax

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State GST(SGST) Taxes

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

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Taxes Which are not Included in GST

• Basic Customs Duty
• Exports Duty
• Road Passenger Tax
• Toll Tax
• Property Tax
• Stamp Duty
• Electricity Duty

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Benefits of GST
Time-saving Single Tax Rate Reduce
cascading effect Control tax evasion
Download GST App on Both Platform
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