Name any two taxes which were subsumed in Goods and Services Tax (GST).
Answers
Answered by
6
Explanation:
GST literally the king of all taxes. almost all taxes are gst now. but here's your answer
VAT( value added tax) and import duties(categories under IGST)
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Answered by
1
Answer:
Two taxes which were subsumed in Goods and Services Tax (GST) are the Central excise tax and service tax.
Explanation:
‘Goods and Service tax’ are indirect and a ‘comprehensive tax’ that is imposed on the supply of ‘goods and services’ in India. The introduction of these taxes has subsumed almost all other forms of indirect taxes.
It gets refunded to the concerned parties in the different stages of production apart from the final end-user. The GST consist of various slabs of taxes for different goods.
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