Which of the following taxes have been replaced by the GST?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:

The correct answer is All of the Above

Key Points 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

Important Points

THE CENTRAL TAXES WERE REPLACED BY GST

• Additional duties of excise
• Central Excise Duty
• Excise duty levied the under Medicinal & Toiletries Preparation Act
• Additional duties of Excise levied under Textiles & Textile Products
• Additional duties of Customs(CVD & SAD)
• Service Tax
• Surcharges & Cesses
• Central Sales tax

THE STATE-LEVEL TAXES REPLACED BY GST

• State VAT/Sales Tax
• Central Sales Tax
• Purchase Tax
• Entertainment Tax (Other than those levied by local bodies)
• Luxury Tax
• Entry Tax(All Forms)
• Taxes on lottery, betting & gambling
• Surcharges & Cesses
• Taxes on advertisement

Additional InformationDuty on Medical and Toilet Preparations: Under the Medical and Toilet Preparations (Excise Duties) Act, 1955, excise duty is charged on medical preparations.