| 1. State Value Added Tax |
| 2. Luxury tax |
| 3. Taxes on lottery, betting and gambling |
A) Only 1, 2
B) Only 1, 3
C) All of the above
D) None of the above
Correct Answer: D
Solution :
Central taxes that the GST will replace: Central Excise Duty, Duties of Excise (medicinal and toilet preparations). Additional Duties of Excise (goods of special importance), Additional Duties of Excise (textiles and textile products). Additional Duties of Customs (commonly known as CVD- Countervailing Duty), Special Additional Duty of Customs (SAD) , Service Tax, Cesses and surcharges in so far as they relate to supply of goods or services. State taxes that the GST will subsume: State VAT/Sales tax, Central Sales Tax (levied by the Centre and collected by the States), Purchase Tax, Luxury Tax, Octroi and Entry Tax (all forms), Entertainment Tax (not levied by local bodies), Taxes on advertisements, Taxes on lotteries, betting and gambling. State cesses and surcharges.
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