The GST is an indirect tax that replaced many taxes to make simple tax system in India. The objective is to remove the complexity and effect of tax cascading. Today this article guides you to get the valuable information to know the list of all taxes subsumed to GST. You can get the details information about the different tax subsumed to GST in a professional way. It provides free flow to a large pool of tax both state level and central level.
List of Subsumed Central Taxes:
The GST system subsumed various central taxes to GST. Central Excise Duty that is CEVAT. The other tax is additional excise duty that is subsumed to GST. The central sale tax is subsumed to GST that is applied on sale and purchase of product. The most noted of them being service tax which was levied by central government on services agreed or provided. The surcharges and cesses which though consist of small portion in the previous taxation have been eradicated now. The additional custom duty tax is mostly known as Countervailing Duty. The GST also subsumed special additional duty of custom that is known as SAD with 4%. These are some central taxes that are subsumed to GST that is very effective step for economy.
List of Subsumed State Taxes:
The list of state tax is very important to know about the various taxes that are subsumed to GST. VAT is most popular state level tax as the sales tax that is subsumed to GST. Entertainment tax is most income sources of state government that is now subsumed to GST. The 3rd state level tax is a luxury tax that is subsumed to GST. The taxes on a lottery system, betting and gambling are also subsumed to GST. The GST also subsumed state level cesses and surcharges to supply of goods and services. The purchase tax is also subsumed to GST. The GST also subsumed entry tax.
Positive effect of Subsumed Taxes:
It provides maximum positive benefits to the customer with subsumed various taxes with GST. It is very effective to save your money from the double tax system. You get all types of taxes under an umbrella. You need not panic with a different type of taxes that is difficult to understand. It subsumed various taxes like central tax excise and customs duty tax. It provides maximum tax payer to the government in a unique way with 15 digit GSTIN number.
State Taxes subsumed:
It is very beneficial for all business man and common man with all type of state level tax under an umbrella GST system. It is a very transparent system that is profitable for a long time to run business in smoothly. You can access detail information about your all taxes on GST portal. It provides less official work that you can complete online on GST portal. You should have proper knowledge about the different type of taxes that are not subsumed to GST. It is very important to clear your doubt regarding various types of state level taxes and central level taxes. You should be very profitable from subsumed taxes to GST.