Benefits of GST

GST would replace most indirect taxes currently in place such as:

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 & 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 the States)

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