Home GST Taxes to be Subsumed into CGST and SGST

Taxes to be Subsumed into CGST and SGST

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GST system

GST Council Constitution

Services and Supply under GST

The GST would apply to all goods other than alcoholic liquor for human consumption and five petroleum products, viz. petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel. It would apply to all services barring a few to be specified. The GST would replace the following taxes currently levied and collected by the Centre:

Taxes to be Subsumed into CGST

The following Taxes to be subsumed into CGST (Central Goods and Service Tax)

Excise Duty
Service Tax
SAD
SURCHARGES
CESSES
CVD
Medicinal Excise

Taxes to be subsumed into SGST

The following Taxes to be subsumed into SGST (State Goods and Service Tax)

VAT / Sales Tax
Entry Tax /Octroi / LBT
Purchase Tax
Taxes on lottery, betting and gambling
Luxury Tax
Entertainment Tax
State Cesses & Surcharges

GST will be applicable on all Goods & Services EXCEPT

Alcoholic Beverages for Human Consumption – State Excise Duty to Continue
Effective date for Petroleum Products will be notified later
Industrial incentives to be converted into investment link cash subsidy
Special Industrial Area Schemes to be also converted into investment based through their validity period / Grandfathering of exemptions by way of refund of direct cash and no upfront exemption
Common list of exemption for CGST & SGST
Transactions which are below threshold limits