name the two taxes which were imposed by union government but now submerged into gst?
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FIRST IS INCOME TAX
SECOND IS TOLL TAX
SECOND IS TOLL TAX
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Answer:
These two taxes are Excise Duty and Service Tax. Excise duty was a duty that was imposed on the manufacture of excisable goods. However such goods should have been marketable and new.
There were different rates of duties depending on the nature of goods manufactured. Service Tax was a tax that was imposed on services rendered.
The rates have changed from time to time as per the government notification. Some of the services were also included in the negative list on which no service tax was imposed.
Explanation:
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