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GST KNOWLEDGE SERIES #5: TAXES TO BE SUBSUMED IN GST

Goods and Service Tax - GST - By: - CA. Chitresh Gupta - Dated:- 7-9-2015 - GST is commonly described as indirect, comprehensive, broad based consumption Tax. The Dual GST which would be implemented in India will subsume many consumption taxes. The objective is to remove the multiplicity of tax levies thereby reducing the complexity and remove the effect of Tax Cascading. The objective is to subsume all those taxes that are currently levied on the sale of goods or provision of services by either .....

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the supply of services. Taxes or levies to be subsumed should be part of the transaction chain which commences with import/ manufacture/ production of goods or provision of services at one end and the consumption of goods and services at the other. The subsumation should result in free flow of tax credit in intra and inter-State levels. The taxes, levies and fees that are not specifically related to supply of goods & services should not be subsumed under GST. Revenue fairness for both the U .....

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, commonly known as Countervailing Duty (CVD) Special Additional Duty of Customs - 4% (SAD) Surcharges and Cesses levied by Centre are also likely to be subsumed wherever they are in the nature of taxes on goods or services. This may include cess on rubber, tea, coffee, national calamity contingent duty etc. Central Sales Tax to be phased out. 3. STATE TAXES TO BE SUBSUMED IN GST Following State taxes and levies would be, to begin with, subsumed under GST: VAT / Sales tax Entertainment tax (unle .....

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for the following specific goods: 4.1 TAX ON SUPPLY OF THE ALCOHOLIC LIQUOR FOR HUMAN CONSUMPTION As per the proposed amendment to Constitution by the Constitution (122nd Amendment) Bill, 2014, supply of the alcoholic liquor for human consumption has been excluded from the definition of goods and service tax. New clause 12A has been inserted in article 366 which defines goods and service tax as follows: Goods and services tax means any tax on supply of goods or services or both except taxes on t .....

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of States to tax alcohol products is intended to remain unaltered in the near future. 4.2 TAX ON TOBACCO PRODUCTS Tobacco and tobacco products would be subjected to GST. However, it can be subjected to a separate excise duty by the Centre. 4.3 TAX ON PETROLEUM CRUDE/ HIGH SPEED DIESEL/ MOTOR SPIRIT/ NATURAL GAS/ AVIATION TURBINE FUEL The States would continue as per the current laws to impose Value Added Tax (VAT) on Petroleum Crude/ High Speed Diesel/ Motor Spirit/ Natural Gas/ Aviation Turbin .....

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