which of the following taxes is not subsumed with gst

Introduction

Goods and Services Tax (GST) is an indirect tax that has replaced many indirect taxes in India. It was implemented on July 1, 2017, with the aim of simplifying the taxation system and reducing the burden of multiple taxes on businesses.

What is GST?

GST is a destination-based tax that is levied on the supply of goods and services. It is a comprehensive tax that subsumes various indirect taxes such as Central Excise Duty, Service Tax, Value Added Tax (VAT), etc. GST has three components: CGST (Central Goods and Services Tax), SGST (State Goods and Services Tax), and IGST (Integrated Goods and Services Tax). CGST and SGST are levied by the central and state governments, respectively, on intra-state transactions, while IGST is levied on inter-state transactions.

Taxes that are subsumed with GST

GST has subsumed many indirect taxes, including:

Central Excise Duty
Service Tax
Additional Excise Duty
Countervailing Duty
Special Additional Duty of Customs
Value Added Tax (VAT)
Entry Tax
Entertainment Tax
Luxury Tax
Octroi
Purchase Tax
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Taxes that are not subsumed with GST

There are a few taxes that are not subsumed with GST. These are:

1. Stamp Duty

Stamp duty is a tax that is levied on various instruments such as property transactions, lease agreements, and share transfers. It is a state subject and is not subsumed with GST.

2. Electricity Duty

Electricity duty is a tax that is levied by state governments on the consumption of electricity. It is not subsumed with GST.

3. Property Tax

Property tax is a tax that is levied by municipal corporations on the ownership of property. It is not subsumed with GST.

4. Road Tax

Road tax is a tax that is levied by state governments on the ownership of motor vehicles. It is not subsumed with GST.

Conclusion

GST has simplified the taxation system and has reduced the burden of multiple taxes on businesses. However, there are a few taxes that are not subsumed with GST, such as stamp duty, electricity duty, property tax, and road tax. Businesses and individuals need to be aware of these taxes and comply with their respective rules and regulations.